Edgar Filing: WOORI BANK

Form 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2017

Woori Bank

(Translation of Registrant’s name into English)

51, Sogong-ro, Jung-gu, Seoul, 04632, Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐+65

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Index


1.		Summary of 2017 1Q Business Report
2.		Exhibit 99.1 Woori Bank Review Report for 2017 1Q (Consolidated)
3.		Exhibit 99.2 Woori Bank Review Report for 2017 1Q (Separate)

Summary of 2017 First Quarter Business Report

Table of Contents


I. INTRODUCTION OF THE BANK		5

1.	Overview of the Bank	5

2.	Capital Structure (Changes in Capital)	10

3.	Total Number of Authorized Shares	10

4.	Voting Rights	11

5.	Dividend Information	11

II. BUSINESS OVERVIEW		12

1.	Results of Operations	12

2.	Business Performance by Operation	12

3.	Funding Sources and Use of Funds	15

4.	Other Information Necessary for Making Investment Decisions	17

III. FINANCIAL INFORMATION		19

1.	Condensed Financial Statements (Consolidated)	19

2.	Condensed Financial Statements (Separate)	21

IV. INDEPENDENT AUDITOR’S OPINION		23

1.	Independent Auditor’s Opinion	23

2.	Compensation to the Independent Auditor for the Past Three Years	23

V. CORPORATE GOVERNANCE AND AFFILIATED COMPANIES		24

1.	About the Board of Directors	24

2.	Affiliated Companies (as of March 31, 2017)	25

VI. SHAREHOLDER INFORMATION		26

1.	Share Distribution	26

2.	Stock Price and Stock Market Performance	28

VII. DIRECTORS AND EMPLOYEE INFORMATION		29

1.	Directors	29



2.	Employee Status	29

3.	Directors’ Compensation	30

VIII. RELATED PARTY TRANSACTIONS		30

Except where indicated otherwise, financial information contained in this document (including the attached financial statements) has been prepared in accordance with the Korean equivalent of International Financial Reporting Standards (“Korean IFRS”), which differ in certain important respects from generally accepted accounting principles in the United States.

All references to “Woori Bank,” “we,” “us” or the “Bank” are to Woori Bank and, unless the context requires otherwise, its subsidiaries. In addition, all references to “Won” or “KRW” in this document are to the currency of the Republic of Korea.

I.	Introduction of the Bank

1.	Overview of the Bank

a.	History

(1)

Background: Major developments.


March 27, 2001		Became a subsidiary of Woori Finance Holdings Co., Ltd. (“Woori Finance Holdings”)

December 31, 2001		Merged with the spun off banking division of Peace Bank of Korea

January 31, 2002		Transferred the credit card business of Hanvit Bank to Woori Card

May 22, 2003		Awarded Republic of Korea Corporate Image Grand Prize – Grand Prize for CI and First Prize for Knowledge Management

July 31, 2003		Merged with Woori Investment Bank

March 31, 2004		Merged with Woori Credit Card

September 7, 2004		Selected as 2004 Top Bank of Korea by British magazine “The Bankers”

November 4, 2005		Opened the first comprehensive financial office in the financial sector, “Woori Finance Plaza”

May 19, 2006		Established Korea BTL Infrastructure Fund

December 1, 2006		Officially launched Woori Global Markets Asia Limited

November 12, 2007		Established a local legal entity in China, Woori Bank China Ltd.

January 9, 2008		Established a local legal entity in Russia, ZAO Woori Bank

December 16, 2008		Issued 70,000,000 convertible preferred shares (par value KRW 5,000, issue price KRW 10,000)

April 1, 2009		Issued 60,000,000 common shares for increase in capital

April 1, 2009		Selected as “Outstanding Company in Gender Equal Employment” sponsored by the Ministry of Labor

December 15, 2009		Awarded Asian Financial Culture Grand Prize “Top Prize in Community Activities”

March 21, 2010		Woori Bank China Ltd. acquired qualification as a “settlement bank for Renminbi currency in international trade”


April 18, 2011		Woori Smile Microcredit executed an MOU to jointly support microcredit with the Ministry of Land, Transport and Maritime Affairs

August 24, 2011		Internet banking reached 10 million customers

April 25, 2012		Awarded “2012 Top Bank of Korea” by the Asian Banker for two consecutive years

August 30, 2012		Awarded 2012 Asia PB Top Award by Asia Economic Daily

September 25, 2012		Woori Brazil Bank began business

October 11, 2012		Selected as “Top Financial Institution for Anti-Money Laundering”

November 7, 2012		Awarded Grand Prize for the First Awards for Protection of Financial Consumers in 2012 by the Korea Economic Daily

November 29, 2012		Awarded Presidential Award sponsored by the Financial Supervisory Commission for “Anti-Money Laundering”

December 6, 2012		Awarded “2012 Grand Prize for Small Loan Financing”

December 13, 2012		Awarded Grand Prize for “2012 Aju Economy and Finance Award”

January 17, 2013		Awarded Grand Prize for Top Customer Service

March 27, 2013		Awarded Grand Prize for Woori Bank “Two Chairs” PB services for four consecutive years

April 1, 2013		Spun off its credit card business

June 14, 2013		Inaugurated the 48th President of the Bank, concurrently holding the position of the 6th President of Woori Finance Holdings

June 27, 2013		Number 1 in Korean Standard-Service Quality Index (KS-SQI) for three consecutive years

October 4, 2013		Selected by National Pension Fund as “Top Foreign Exchange Bank”

December 19, 2013		Awarded “Grand Prize for Small Loan Finance” sponsored by the FSS

January 3, 2014		Awarded final approval to acquire Indonesia’s Saudara Bank 115th anniversary of the establishment of the Bank

January 9, 2014		Awarded “2014 Grand Award for Customer Service”


February 21, 2014		Awarded Grand Prize for “Republic of Korea Top Bank”

March 26, 2014		The Bank re-selected as “the main bank for the City of Seoul”

March 29, 2014		Hansae Basketball team, the professional women’s basketball team, won the “overall championship for 2013-14”

April 1, 2014		Established business agreement with Ministry of Health and Welfare for promotion of philanthropic culture

April 17, 2014		Woori Short Term National/Public Bond Fund reached KRW 100 billion in commitments

April 24, 2014		Became the First domestic bank to issue Basel III subordinated debt in foreign currency (USD 1 billion)

May 21, 2014		Awarded “Korea’s Top Bank in Money Management” by Asian Banker in 2014

May 29, 2014		Executed business agreement with the Patent Office for promotion of IP finance

June 2, 2014		Executed business agreement with Korea Housing Guarantee Co., Ltd. for dealing and managing “Guaranteed Standard PF Loans”

June 26, 2014		The Bank selected by the Ministry of Trade, Industry and Energy as the exclusive bank for “R&D Project Development”

July 28, 2014		The Bank’s board of directors approves the merger between Woori Finance Holdings and Woori Bank (the “Merger”)

September 30, 2014		The Korea Deposit Insurance Corporation (the “KDIC”) announced the sale of the controlling stake (30%) in Woori Bank

October 10, 2014		The first Korean bank to issue Yuan-denominated bonds

November 1, 2014		Woori Finance Holdings merged with and into the Bank

November 10, 2014		Opened office in Vladivostok, Russia

December 30, 2014		Inaugurated the 49th President of the Bank, Kwang-Goo Lee

		Awarded final approval to merge PT. Bank Woori Indonesia with Saudara Bank

February 26, 2015		PT. Bank Woori Saudara Indonesia officially launched


March 31, 2015		Commemoration of the 100 year partnership between Woori Bank and Seoul Metropolitan Government

May 26, 2015		Launched mobile-only bank, WiBee Bank

		WiBee Bank mobile loan products released

August 20, 2015		Launched Woori-Samsung Pay Service

September 19, 2015		Launched first overseas service of WiBee Bank, ‘WiBee Bank Cambodia’

November 29, 2015		K-Bank is selected as the first internet-only bank (Woori Bank stake 10%)

January 6, 2016		Launched 1st bank mobile messenger service, WibeeTalk

June 24, 2016		First Korean Bank to launch offshore Won-Yuan clearing services

September 21, 2016		Successfully issued $500 million foreign currency denominated contingent convertible bonds, the first in the form of perpetual bonds in Korea.

November 13, 2016		The FSC announced the KDIC’s successful privatization efforts through the sales of a combined 29.7% ownership interest in Woori Bank to seven financial companies

December 8, 2016		Selected as 2016 Top Bank of Korea by British magazine “The Bankers”

December 27, 2016		Achievement of an overseas network comprising 250 branches

December 28, 2016		The number of users of WiBee platforms, WiBee Talk and WiBee Members, exceeds 3 million

January 12, 2017		Selected as the 2016 Best Korean Wealth Management Provider by British magazine “World Finance”

January 16, 2017		Opened Gurgaon Branch, India

February 5, 2017		Opened office in Katowice, Poland, the first among Korean banks

February 5, 2017		Launched SORi, the first voice recognition AI banking service in Korea

b.	Affiliated Companies

(1)

Overview of Business Group

Name of business group: Woori Bank

(2)

Affiliated companies within the business group

As of March 31, 2017


Type	Name of Company	Controlling Company	Notes
Company	Woori Bank	—	—

FirstTier Subsidiaries	Woori Card (equity ownership 100.0%)	Woori Bank	18 companies
	Woori Investment Bank (equity ownership 58.15%)
	Woori FIS (equity ownership 100.0%)
	Woori Private Equity Asset Management (equity ownership 100.0%)
	Woori Finance Research Institute (equity ownership 100.0%)
	Woori Credit Information (equity ownership 100.0%)
	Woori Fund Services (equity ownership 100.0%)
	Korea BTL Infrastructure Fund (equity ownership 99.87%)
	Woori America Bank (equity ownership 100.0%)
	PT. Bank Woori Saudara Indonesia (equity ownership 74.02%)
	AO Woori Bank (equity ownership 100.0% - 1 share)
	Woori Bank China Limited (equity ownership 100.0%)
	Woori Bank Brasil (equity ownership 100.0% - 1 share)
	Woori Finance Cambodia (equity ownership 100.0%)
	Woori Finance Myanmar (equity ownership 100.0%)
	Woori Wealth Bank Philippines (equity ownership 51%)
	Woori Bank Vietnam (equity ownership 100.0%)
	Woori Global Markets Asia Ltd. (equity ownership 100.0%)

	Woori Private Equity Fund (equity ownership 2.94%)
Second Tier Subsidiaries	Woori Blackstone Korea Opportunity Private Equity Fund No.1 (equity ownership 4.95%)	Woori Private Equity	4 companies
	Woori Columbus Private Equity Fund No.1 (equity ownership 1.92%)	Woori Private Equity
	TUTU Finance-WCI Myanmar (equity ownership 100.0%)	Woori Card

*	Listed Companies : Woori Bank, Woori Investment Bank and PT. Bank Woori Saudara Indonesia

2.	Capital Structure (Changes in Capital)


As of March 31, 2017		(units: Won, shares)


Date	Category	Stock Decrease/Increase
Date	Category	Type		Quantity		Par Value		Issue price		Note
4.1.2013	Capital reduction with compensation		Common		153,797,130		5,000		5,000	Capital reduction due to spin off of credit card business
4.1.2013	Capital reduction with compensation		Preferred		15,469,070		5,000		10,000	Capital reduction due to spin off of credit card business
6.5.2013	Exercise of conversion rights		Common		54,530,930		5,000		10,000	Reduction of preferred shares due to exercise of rights to convert convertible preferred shares
6.5.2013	Exercise of conversion rights		Preferred		54,530,930		5,000		10,000	Increase in common shares due to exercise of rights to convert convertible preferred shares
11.3.2014	—		Common		596,690,380		5,000		5,000	Capital reduction due to the merger with Woori Finance Holdings
11.3.2014	—		Common		676,278,371		5,000		5,000	Increase in common shares (new issuance of shares) due to the merger with Woori Finance Holdings
10.2.2015	—		Common		278,371		5,000		—	Retirement of shares*

*	Upon consummation of the merger with Woori Finance Holdings, 596,690,380 shares of the Bank were cancelled and 676,278,371 shares were newly issued according to the merger ratio.

On October 2, 2015, 278,371 shares were retired and the total number of shares issued changed to 676,000,000 shares. There was no decrease to Woori Bank’s capital as the number of outstanding shares remains the same. [Related Disclosure : Report on Form 6-K submitted by Woori Bank on September 11, 2015, entitled “Resolution Relating to Retirement of Shares”]

3.	Total Number of Authorized Shares


As of March 31, 2017		(unit: shares)


Items	Type
Items	Common Shares		Total
Total number of shares authorized		5,000,000,000		5,000,000,000
Total number of shares issued to date		676,000,000		676,000,000
Number of treasury shares		2,728,774		2,728,774
Number of outstanding shares		673,271,226		673,271,226

*	Upon consummation of the merger with Woori Finance Holdings, 596,690,380 shares of the Bank were cancelled and 676,278,371 shares were newly issued according to the merger ratio.

On September 30, 2015 Woori Bank terminated its trust agreement and acquired 2,913,155 treasury shares which were deposited into Woori Bank’s treasury share account. On October 2, 2015, 278,371 of such acquired shares were retired. [Related Disclosure : Report on Form 6-K submitted by Woori Bank on September 11, 2015, entitled “Resolution Relating to Retirement of Shares”]

4.	Voting Rights


As of March 31, 2017		(unit: shares)


Items		Number of stock		Notes
Total number of shares issued	Common Shares		676,000,000		—
Total number of shares issued	Preferred Shares		—		—
Number of shares without voting rights	Common Shares		2,728,774		Note 1	)
Number of shares without voting rights	Preferred Shares		—		—
Number of shares for which voting rights are excluded pursuant to the articles of incorporation	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights are limited by law	Common Shares		2,661,978		Note 2	)
Number of shares for which voting rights are limited by law	Preferred Shares		—		—
Number of shares for which voting rights have been restored	Common Shares		—		—
Number of shares for which voting rights have been restored	Preferred Shares		—		—
Number of shares for which voting rights may be exercised	Common Shares		670,609,248		—
Number of shares for which voting rights may be exercised	Preferred Shares		—		—

Note 1) The shares without voting rights are treasury shares. Please see “I. Introduction of the Bank – 3. Total Number of Authorized Shares.”

Note 2) Pursuant to Article 16-2(2) of the Banking Act, a non-financial business operator is restricted from exercising voting rights in excess of 4% of the total number of outstanding voting shares of a bank.

5.	Dividend Information


Items		2017 1Q		2016		2015
Par value per share (Won)			5,000		5,000		5,000
Net profit (Millions of Won)			637,473		1,261,266		1,059,157
Earnings per share (Won)			874		1,567		1,301
Total cash dividends (Millions of Won)			—		269,308		336,636
Total stock dividends (Millions of Won)			—		—		—
Cash dividend payout ratio (%)			—		21.35		31.8
Cash dividend yield (%)	Common Shares		—		3.01		5.50
Cash dividend yield (%)	Preferred Shares		—		—		—
Stock dividend yield (%)	Common Shares		—		—		—
Stock dividend yield (%)	Preferred Shares		—		—		—
Cash dividend per share (Won)	Common Shares		—		400		500
Cash dividend per share (Won)	Preferred Shares		—		—		—
Stock dividend per share (Won)	Common Shares		—		—		—
Stock dividend per share (Won)	Preferred Shares		—		—		—

*	Based on K-IFRS consolidated financial statements

*	2015 figures include interim dividends

II.

Business Overview

1.	Results of Operations


As of March 31, 2017				(unit: 100 millions of Won)


Type	1Q 2017		1Q 2016		2016		2015
Operating income		8,797		5,563		15,742		13,516
Non-operating income		602		467		1,690		3,140
Non-operating expenses		1,113		376		1,898		2,136
Ordinary profits		8,286		5,654		15,534		14,519
Income from continuing operations before income tax		8,286		5,654		15,534		14,519
Income tax expense from continuing operations		1,859		1,189		2,759		3,766
Income from discontinued operations		—		—		—		—
Net income		6,427		4,465		12,775		10,754

*	Based on K- IFRS consolidated financial statements

2.	Business Performance by Operation

a.	Deposit Services


As of March 31, 2017				(unit: millions of Won)


Type		1Q 2017			2016			2015
Deposits received in local currency	Demand deposits		7,939,880			9,491,680			9,728,839
	Money trusts		1,370,427			1,360,176			1,304,268
	Fixed deposits		185,765,974			183,723,369			175,598,522
	Mutual funds		36,373			37,128			40,888
	CDs		3,707,842			3,836,429			2,435,087
	Other deposits received		1,117,044			1,146,459			922,749
Deposits received in foreign currencies			22,482,465			21,453,097			19,129,214
Present value discount			(33,767	)		(27,927	)		(17,739	)
Total			222,386,239			221,020,411			209,141,826

*	Based on K- IFRS consolidated financial statements

b.	Loan Services

(a)

Balances of Loans by Type


As of March 31, 2017				(unit: millions of Won)


Type	1Q 2017		2016		2015
Loans in local currency		193,372,731		191,309,481		185,154,851
Loans in foreign currencies		16,350,583		17,855,868		17,910,253
Guarantee payments		25,553		25,197		44,242
Total		209,748,867		209,190,547		203,109,346

*	Based on K- IFRS consolidated financial statements

*	Loans in foreign currencies includes domestic banker’s letter of credit (usance)

(b)

Loans by Purpose of Funds


As of March 31, 2017				(unit: millions of Won)


Type		1Q 2017		2016		2015
Corporate loans	Working capital loans		45,731,376		44,957,542		50,646,880
	Facilities loans		37,807,039		36,858,776		32,858,237
Household loans			55,445,568		54,939,608		51,606,328
Public and other loans	Working capital loans		1,563,882		1,764,781		2,585,869
	Facilities loans		1,755,838		1,748,878		1,741,230
Mortgage loans			50,816,400		50,807,744		44,812,233
Inter-bank loans			150,205		142,032		834,301
Other loans			102,423		90,120		69,771
Total			193,372,731		191,309,481		185,154,851

*	Balances of loans are those in local currency based on K- IFRS consolidated financial statements

(c)

Loan-to-deposit ratio


				(unit: 100 millions of Won, %)


Type	1Q 2017		2016		2015
Loans in local currency		1,928,425		1,918,176		1,857,984
Deposits received in local currency (excluding CDs)		1,943,425		1,940,301		1,846,329
Ratio		97.84		97.39		98.83

*	Based on K- IFRS separate financial statements

*	Loan-to-deposit ratio = (Average monthly balance of loans in local currency – Average monthly balance of policy loans) / (Average balance of deposits received in local currency (excluding CDs) + Covered bonds issued with over 5 year maturities)

c.	Guarantees


As of March 31, 2017				(unit: millions of Won)


Type	1Q 2017		2016		2015
Confirmed guarantees		7,257,989		8,270,187		9,069,247
Unconfirmed guarantees		4,716,226		5,101,701		6,631,055
Commercial paper purchase commitments and others		1,390,956		1,389,896		1,615,141
Total		13,365,171		14,761,784		17,315,443

*	Based on K- IFRS consolidated financial statements

d.	Securities Investment


As of March 31, 2017				(unit: millions of Won)


Type	1Q 2017		2016		2015
Securities at fair value through profit or loss		2,679,574		2,726,249		2,717,276
Available-for-sale financial assets		20,138,096		20,817,583		17,170,592
Held-to-maturity financial assets		14,296,526		13,910,251		13,621,640
Investments in associates		398,941		439,012		643,861
Total		37,513,137		37,893,095		34,153,369

*	Based on K- IFRS consolidated financial statements

e.	Trust Business


As of March 31, 2017				(unit: millions of Won)

Type

1Q 2017

2016

2015

Trust Funds

Trust Fees

Trust Funds

Trust Fees

Trust Funds

Trust Fees

Money trust

28,826,459

34,032

26,019,180

73,814

23,980,475

49,973

Property trust

12,294,281

730

12,714,338

4,803

9,354,003

1,323

Total

41,120,740

34,762

38,733,518

78,617

33,334,478

51,296

*	Trust funds indicate average balances.

3.	Funding Sources and Use of Funds

a.	Sources of Funds

[Bank Accounts]

(unit: millions of Won, %)


Classification	Funding Source	1Q 2017						2016						2015
Classification	Funding Source	Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion
Local currency funds	Deposits received in local currency		185,201,332		1.28		65.92		183,440,285		1.38		65.35		169,919,620		1.70		64.76
	Certificates of deposit		3,919,509		1.68		1.40		3,466,223		1.70		1.23		1,879,832		1.92		0.72
	Borrowings in local currency		6,256,758		1.34		2.23		6,709,080		1.45		2.39		6,689,135		1.77		2.55
	Call money in local currency		1,712,657		1.21		0.61		1,159,188		1.32		0.41		1,370,253		1.62		0.52
	Others		18,676,473		2.39		6.65		18,532,241		2.60		6.60		18,944,493		2.95		7.22
	Subtotal		215,766,728		1.38		76.80		213,307,017		1.50		75.98		198,803,334		1.82		75.77
Foreign currency funds	Deposits received in foreign currencies		14,483,138		0.49		5.16		14,838,684		0.47		5.29		11,568,322		0.44		4.41
	Borrowings in foreign currencies		7,263,575		1.21		2.59		8,595,575		0.86		3.06		9,245,073		0.53		3.52
	Call money in foreign currencies		1,320,492		1.12		0.47		1,401,294		0.70		0.50		1,199,484		0.53		0.46
	Debentures in foreign currencies		3,715,753		3.05		1.32		3,950,614		2.54		1.41		4,851,289		2.72		1.85
	Others		489,554		0.12		0.17		531,877		0.29		0.19		650,409		0.66		0.25
	Subtotal		27,272,512		1.06		9.71		29,318,044		0.87		10.44		27,514,577		0.88		10.49
Others	Total capital		20,185,862		—		7.18		19,617,484		—		6.99		18,501,137		—		7.05
	Provisions		366,436		—		0.13		412,553		—		0.15		640,666		—		0.24
	Others		17,354,038		—		6.18		18,070,427		—		6.44		16,907,843		—		6.44
	Subtotal		37,906,335		—		13.49		38,100,463		—		13.57		36,049,647		—		13.74
Total			280,945,576		1.16		100.00		280,725,524		1.23		100.00		262,367,557		1.47		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(unit: millions of Won, %)


Type	Funding Source	1Q 2017						2016						2015
Type	Funding Source	Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share
Cost	Money trusts		28,826,459		1.54		69.91		26,019,180		1.52		66.98		23,980,475		1.88		71.71
	Borrowings		0		0.00		0.00		0		0.00		0.00		0		0.00		0.00
	Subtotal		28,826,459		1.54		69.91		26,019,180		1.52		66.98		23,980,475		1.88		71.71
Non-cost	Property trusts		12,294,281		—		29.82		12,714,338		—		32.73		9,354,003		—		27.97
	Special reserves		39,075		—		0.09		38,160		—		0.10		37,989		—		0.11
	Other		72,552		—		0.18		72,810		—		0.19		70,265		—		0.21
	Subtotal		12,405,908		—		30.09		12,825,308		—		33.02		9,462,257		—		28.29
Total			41,232,367		—		100.00		38,844,488		—		100.00		33,442,732		—		100.00

b.	Fund Management Performance

[Bank Accounts]

(unit: millions of Won, %)


Type	Managed Item	1Q 2017								2016								2015
Type	Managed Item	Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share
Local currency funds	Deposits in local currency		3,790,223			1.27		1.35			3,171,599			1.34		1.13			2,580,842			1.72		0.98
	Marketable securities in local currency		34,894,072			2.06		12.42			33,880,119			2.58		12.07			32,994,958			2.79		12.58
	Loans in local currency		192,055,000			3.03		68.36			189,079,324			3.10		67.35			176,631,188			3.42		67.32
	Guarantee payments		29,203			1.71		0.01			51,254			0.89		0.02			64,533			1.89		0.02
	Call loans in local currency		1,602,640			1.34		0.57			3,581,382			1.41		1.28			2,083,053			1.64		0.79
	Private placed bonds		216,853			5.36		0.08			247,292			5.19		0.09			280,702			5.98		0.11
	Credit card receivables		74			—		0.00			24			—		0.00			—			—		—
	Other		4,455,139			1.97		1.59			4,580,215			2.04		1.63			4,313,781			2.61		1.64
	Bad debt expense in local currency (-)		(1,416,686	)		—		(0.50	)		(1,925,177	)		—		(0.69	)		(2,482,955	)		—		(0.95	)
	Subtotal		235,626,519			2.84		83.87			232,666,033			2.98		82.88			216,466,103			3.31		82.50
Foreign currency funds	Deposits in foreign currencies		3,605,970			0.63		1.28			3,761,286			0.43		1.34			2,872,735			0.28		1.09
	Marketable securities in foreign currencies		2,222,446			1.70		0.79			1,752,884			1.13		0.62			1,375,146			1.51		0.52
	Loans in foreign currencies		11,301,328			2.36		4.02			13,371,873			1.95		4.76			14,206,736			1.65		5.41
	Call loans in foreign currencies		3,086,854			1.07		1.10			2,940,858			0.85		1.05			2,040,819			0.59		0.78
	Bills bought		7,026,097			1.73		2.50			7,110,164			1.53		2.53			6,899,811			1.38		2.63
	Other		61,371			2.60		0.02			13,829			9.72		0.00			17,047			6.96		0.01
	Bad debt expense in foreign currencies (-)		(371,242	)		—		(0.13	)		(312,211	)		—		(0.11	)		(191,224	)		—		(0.07	)
	Subtotal		26,932,824			1.79		9.59			28,638,685			1.51		10.20			27,221,069			1.37		10.38
Other	Cash		1,217,144			—		0.43			1,169,566			—		0.42			1,116,715			—		0.43
	Property and equipment for business purposes		2,335,364			—		0.83			2,325,893			—		0.83			2,328,130			—		0.89
	Other		14,833,725			—		5.28			15,925,347			—		5.67			15,235,540			—		5.81
	Subtotal		18,386,233			—		6.54			19,420,807			—		6.92			18,680,385			—		7.12
Total			280,945,576			2.56		100.00			280,725,524			2.62		100.00			262,367,557			2.87		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(Unit: millions of Won, %)


Type	Managed Item	1Q 2017							2016							2015
Type	Managed Item	Average Balance			Interest Rate		Share		Average Balance			Interest Rate		Share		Average Balance			Interest Rate			Share
Profit	Loans		24,692			3.35		0.06		23,088			4.21		0.06		19,482			4.05			0.06
	Securities		6,541,300			2.25		15.86		4,701,052			1.93		12.10		3,470,064			(0.57	)		10.38
	Other		23,135,203			1.45		56.11		22,237,766			1.63		57.25		21,231,787			2.00			63.49
	Reserves for bond ratings (-)		(28	)		0.00		0.00		(36	)		0.00		0.00		(68	)		0.00			0.00
	Present value discount (-)		(119	)		0.00		0.00		(215	)		0.00		0.00		(414	)		0.00			0.00
	Subtotal		29,701,048			1.62		72.03		26,961,655			1.68		69.41		24,720,851			1.64			73.92
Non-profit	Subtotal		11,531,319			—		29.97		11,882,833			—		30.59		8,721,881			—			26.08
Total			41,232,367			—		100.00		33,442,732			—		100.00		29,994,637			—			100.00

4.	Other Information Necessary for Making Investment Decisions

a.	Selected Ratios

BIS Capital Adequacy Ratios

(unit: 100 millions of Won, %)


Type	1Q 2017			2016			2015
Equity capital (A)		224,524			229,005			210,514
Risk weighted assets (B)		1,489,596			1,497,281			1,540,709
Capital adequacy ratio (A/B)		15.07	%		15.29	%		13.66	%

*	Based on Basel III standards

*	Based on K-IFRS consolidated financial statements

*	The 1Q 2017 figures change (equity capital to 223,140, risk weighted assets to 1,363,708, capital adequacy ratio to 16.36%) when excluding the five subsidiaries that were newly included after the merger with Woori Finance Holdings.

Liquidity Ratios

(unit: %)


Type	1Q 2017		2016		2015
Liquidity coverage ratio (LCR)		112.57		109.61		106.67
Foreign currency liquidity coverage ratio(LCR) **		79.32		—		—
Ratio of business purpose premises and equipment		13.64		13.49		14.37

*	Based on K-IFRS separate financial statements

**	Foreign currency liquidity coverage ratio : Introduced and started in year 2017. From 2017 banks are required to comply with the foreign currency LCR rule. Commercial banks will be set at 60% in 2017, increase gradually to 70% in 2018 and 80% in 2019)

b.	Asset Quality

(unit: 100 millions of Won)


Type		1Q 2017			2016			2015
Total loans	Total		2,157,592			2,166,122			2,108,424
	Corporate		1,123,316			1,140,252			1,185,857
	Household		1,034,276			1,025,870			922,567
Sub-standard and below loans Sub-standard and below loan ratio	Total		18,239			21,121			31,009
	Total		0.85	%		0.98	%		1.47	%
	Corporate		15,560			18,237			27,701
	Corporate		1.39	%		1.60	%		2.34	%
	Household		2,679			2,884			3,308
	Household		0.26	%		0.28	%		0.36	%
Delinquency ratio	Based on total loans (after seasonal adjustment)		0.45	%		0.46	%		0.82	%
	Based on total loans (after seasonal adjustment)		(0.49	%)		(0.52	%)		(0.93	%)
	Based on corporate loans (after seasonal adjustment)		0.64	%		0.61	%		1.39	%
	Based on corporate loans (after seasonal adjustment)		(0.68	%)		(0.66	%)		(1.57	%)
	Based on household loans (after seasonal adjustment)		0.29	%		0.31	%		0.39	%
	Based on household loans (after seasonal adjustment)		(0.31	%)		(0.33	%)		(0.43	%)

*	Based on K-IFRS separate financial statements

c.	Recent Developments

On November 1, 2014, the Bank merged with its holding company, Woori Finance Holdings, according to the resolution of the board of directors on July 28, 2014, to maximize the possibility of a successful privatization. New shares of the Bank, the surviving entity, were allotted and delivered to the shareholders of Woori Finance Holdings based on a 1:1.00000000 ratio.

Upon the consummation of the merger, 596,690,380 shares of the Bank were cancelled and 676,278,371 new shares were issued.

The major terms of the Merger are as follows:


Item	Details
Method of Merger	Merger of parent company with and into wholly-owned subsidiary
Merging entities	Woori Bank (surviving entity)
Merging entities	Woori Finance Holdings (non-surviving entity)
New shares issued in Merger	676,278,371 common shares
Schedule of the Merger	Date of the Merger	November 1, 2014
	Date of registration of Merger	November 3, 2014
	Delivery of share certificates	November 18, 2014
	Date of new listing of shares	November 19, 2014

III.

Financial Information

1.	Condensed Financial Statements (Consolidated)

Summary Consolidated Statement of Financial Position


(The Bank and its Consolidated Subsidiaries)				(unit: millions of Won)


Classification	1Q 2017			2016			2015
ASSETS
Cash and cash equivalents		7,984,000			7,591,324			6,644,055
Financial assets at fair value through profit or loss		4,895,765			5,650,724			5,132,657
Available-for-sale financial assets		20,138,096			20,817,583			17,170,592
Held-to-maturity financial assets		14,296,526			13,910,251			13,621,640
Loans and receivables		259,253,071			258,392,633			244,842,062
Investments in joint ventures and associates		398,941			439,012			643,861
Investment properties		364,740			358,497			351,496
Premises and equipment		2,442,308			2,458,025			2,471,206
Intangible assets and goodwill		471,686			483,739			419,806
Assets held for sale		5,496			2,342			17,904
Current tax assets		4,925			6,229			6,782
Deferred tax assets		287,540			232,007			210,597
Derivative assets		146,196			140,577			183,128
Net defined benefit assets		5,523			70,938			—
Other assets		215,192			128,846			143,286
Total assets		310,910,005			310,682,727			291,859,072
LIABILITIES
Financial liabilities at fair value through profit or loss		3,197,324			3,803,358			3,460,561
Deposits due to customers		222,386,239			221,020,411			209,141,826
Borrowings		16,866,596			18,769,515			20,033,917
Debentures		23,970,184			23,565,449			21,898,859
Provisions		384,246			428,477			516,601
Net defined benefit liability		49,561			64,666			99,691
Current tax liabilities		338,030			171,192			108,943
Deferred tax liabilities		21,509			22,023			19,379
Derivative liabilities		48,459			7,221			—
Other financial liabilities		22,765,876			21,985,086			16,964,206
Other liabilities		315,034			299,376			305,174
Total liabilities		290,343,058			290,136,774			272,549,157
EQUITY
Owners’ equity:		20,409,199			20,386,160			19,188,472
Capital stock		3,381,392			3,381,392			3,381,392
Hybrid securities		3,385,500			3,574,896			3,334,002
Capital surplus		286,331			286,331			294,259
Other equity		(1,574,489	)		(1,468,025	)		(1,547,303	)
Retained earnings		14,930,465			14,611,566			13,726,122
Non-controlling interests		157,748			159,793			121,443
Total equity		20,566,947			20,545,953			19,309,915
Total liabilities and equity		310,910,005			310,682,727			291,859,072
Number of Consolidated Subsidiaries		73			74			71

Summary Consolidated Statement of Comprehensive Income


(The Bank and its Consolidated Subsidiaries)				(unit: millions of Won, except per share amounts)


Classification	1Q 2017			1Q 2016			2016			2015
OPERATING INCOME:		879,744			556,254			1,574,206			1,351,586
Net interest income		1,262,744			1,243,661			5,019,544			4,761,900
Net fees and commissions income		274,952			231,735			937,131			976,796
Dividend income		39,828			67,318			184,510			102,923
Gain on financial instruments at fair value through profit or loss		(158,475	)		(58,267	)		114,387			240,342
Gain on available-for-sale financial assets		15,785			9,287			(1,035	)		(3,281	)
Impairment losses due to credit loss		(79,277	)		(180,210	)		(834,076	)		(966,646	)
General and administrative expenses		(754,270	)		(772,443	)		(3,478,476	)		(3,150,387	)
Other net operating income (expenses)		278,457			15,173			(367,779	)		(610,061	)
Non-operating income		(51,114	)		9,107			(20,817	)		100,360
Net income before income tax expense from continuing operations		828,630			565,361			1,553,389			1,451,946
Income tax expense from continuing operations		185,899			118,857			275,856			376,554
Net income from continuing operations		642,731			446,504			1,277,533			1,075,392
Net income from discontinued operations		—			—			—			—
Net income		642,731			446,504			1,277,533			1,075,392
Net income attributable to owners		637,473			443,292			1,261,266			1,059,157
Profit from continuing operations		637,473			443,292			1,261,266			1,059,157
Profit from discontinued operations		—			—			—			—
Net income attributable to the non-controlling interests		5,258			3,212			16,267			16,235
Profit from continuing operations		5,258			3,212			16,267			16,235
Profit from discontinued operations		—			—			—			—
Other comprehensive income (loss), net of tax		(113,152	)		60,194			77,894			31,162
Items that will not be reclassified to profit or loss		(26,517	)		(33,163	)		34,162			(78,267	)
Items that may be reclassified to profit or loss		(86,635	)		93,357			43,732			109,429
Total comprehensive income		529,579			506,698			1,355,427			1,106,554
Comprehensive income attributable to the owners		531,613			500,928			1,332,614			1,094,870
Comprehensive income attributable to non-controlling interests		(2,034	)		5,770			22,813			11,684
NET INCOME PER SHARE:
Continuing and discontinued operations
Basic earnings per common share		874			584			1,567			1,301
Diluted earnings per common share		874			584			1,567			1,301
Continuing operations
Basic earnings per common share		874			584			1,567			1,301
Diluted earnings per common share		874			584			1,567			1,301

2.	Condensed Financial Statements (Separate)

Summary Statement of Financial Position


(The Bank)				(unit: millions of Won)


Classification	1Q 2017		2016		2015
ASSETS
Cash and cash equivalents		6,641,394		6,104,029		5,440,326
Financial assets at fair value through profit or loss		3,368,605		4,076,872		3,569,625
Available-for-sale financial assets		18,185,010		18,105,862		15,869,654
Held-to-maturity financial assets		14,194,265		13,792,266		13,527,452
Loans and receivables		242,048,761		241,508,048		231,083,160
Investments in subsidiaries and associates		3,807,324		3,779,169		3,730,247
Investment properties		349,723		348,393		344,892
Premises and equipment		2,328,726		2,342,280		2,341,506
Intangible assets		240,990		242,230		187,520
Assets held for sale		5,496		2,342		17,904
Current tax assets		—		—		—
Deferred tax assets		188,257		162,211		172,368
Derivative assets		146,196		140,577		183,128
Net defined benefit assets		5,523		70,938		—
Other assets		179,015		96,926		109,126
Total assets		291,689,285		290,772,143		276,576,908
LIABILITIES
Financial liabilities at fair value through profit or loss		3,187,218		3,793,479		3,448,180
Deposits due to customers		212,698,752		211,382,380		201,353,128
Borrowings		14,992,405		16,060,821		18,760,947
Debentures		18,526,134		18,166,057		17,259,749
Provisions		341,830		380,473		467,887
Net defined benefit liability		—		—		45,678
Current tax liabilities		313,523		148,672		77,190
Deferred tax liabilities		—		—		—
Derivative liabilities		21,227		7,221		—
Other financial liabilities		21,532,153		20,827,284		16,111,469
Other liabilities		154,767		153,238		163,362
Total liabilities		271,768,009		270,919,625		257,687,590
EQUITY
Capital stock		3,381,392		3,381,392		3,381,392
Hybrid securities		3,385,500		3,574,896		3,334,002
Capital surplus		269,533		269,533		269,533
Other equity		113,367		138,542		106,016
Retained earnings		12,771,484		12,488,155		11,798,375
Total equity		19,921,276		19,852,518		18,889,318
Total liabilities and equity		291,689,285		290,772,143		276,576,908

Summary Statement of Comprehensive Income


(The Bank)				(unit: millions of Won, except per share amounts)


Classification	1Q 2017			1Q 2016			2016			2015
OPERATING INCOME:		782,866			445,852			1,270,501			1,090,372
Net interest income		1,053,484			1,057,550			4,222,447			4,052,479
Net fees and commissions income		244,667			213,673			842,883			856,343
Dividend income		30,507			56,158			220,015			169,009
Gain on financial instruments at fair value through profit or loss		(152,023	)		(56,867	)		97,225			220,282
Gain on available-for-sale financial assets		13,217			11,729			35,525			(7,960	)
Impairment losses due to credit loss		(34,154	)		(126,960	)		(640,443	)		(766,169	)
General and administrative expenses		(658,689	)		(685,192	)		(3,115,371	)		(2,846,490	)
Other net non-operating income (expenses)		285,857			(24,239	)		(391,780	)		(587,122	)
Non-operating income		(4,477	)		22,855			40,144			144,635
Net income before income tax expense		778,389			468,707			1,310,645			1,235,007
Income tax expense		176,486			86,234			245,043			300,418
Net income from continuing operations		601,903			382,473			1,065,602			934,589
Net income from discontinued operations		—			—			—			—
Net income		601,903			382,473			1,065,602			934,589
Other comprehensive income (loss), net of tax		(24,571	)		56,972			32,526			(8,583	)
Items that will not be reclassified to profit or loss		(25,512	)		(33,214	)		33,191			(73,591	)
Items that may be reclassified to profit or loss		941			90,186			(665	)		65,008
Total comprehensive income		577,332			439,445			1,098,128			926,006
NET INCOME PER SHARE:
Basic and diluted net income per share		821			493			1,277			1,116

IV.

Independent Auditor’s Opinion

1.	Independent Auditor’s Opinion


	1Q 2017	2016	2015
Auditor	Deloitte Anjin LLC	Deloitte Anjin LLC	Deloitte Anjin LLC
Auditor’s Opinion	(1)	Unqualified Opinion	Unqualified Opinion

(1)

In its review report attached to this report, Deloitte Anjin LLC has stated that nothing had come to their attention that caused them to believe that the accompanying consolidated and separate interim financial statements of the Bank are not presented fairly in all material respects, in accordance with Korean IFRS.

2.	Compensation to the Independent Auditor for the Past Three Years

a.	Audit Services


Term	Auditor	Description	Fee	Total Time
1Q 2017	Deloitte Anjin LLC	Closing audit	KRW 1,786 million		—
		Interim audit (including internal accounting management system)			—
		3Q review			—
		1H review			—
		1Q review			4,020 hours
2016	Deloitte Anjin LLC	Closing audit	KRW 1,561 million		7,515 hours
		Interim audit (including internal accounting management system)			4,210 hours
		3Q review			4,991 hours
		1H review			3,526 hours
		1Q review			3,920 hours
2015	Deloitte Anjin LLC	Closing audit	KRW 1,516 million		7,659 hours
		Interim audit (including internal accounting management system)			4,350 hours
		3Q review			3,785 hours
		1H review			3,836 hours
		1Q review			3,778 hours

b.	Non-Audit Services


Term	Date of Execution of Agreement		Description of Service	Service Term	Fees
1Q 2017		Mar. 15, 2017	Tax adjustment	Each quarter and end of term	KRW 120 million
1Q 2017		Mar. 15, 2017	PCAOB and SOX Auditing	May 1, 2017 ~ April 30, 2018	KRW 1,288 million
2016		Mar. 28, 2016	Tax adjustment	Each quarter and end of term	KRW 115 million
		Mar. 28, 2016	PCAOB and SOX Auditing	May 1, 2016 ~ Apr. 30, 2017	KRW 1,127 million
		Mar. 23, 2016	Issuance of GMTN-related comfort letter	May 2016	USD 100,000
2015		May 14, 2015	Review of Japanese F/S related to Samurai bonds	May and Sep. 2015	KRW 74 million
		May 14, 2015	Issuance of GMTN-related comfort letter	May 2015	USD 110,000
		Apr. 03, 2015	Tax adjustment	Each quarter and end of term	KRW 110 million
		Apr. 03, 2015	PCAOB and SOX Auditing	May 1, 2015~ Apr. 30, 2016	KRW 1,094 million
		Jan. 05, 2015	Issuance of GMTN-related comfort letter	Jan. 2015	USD 60,000

V.	Corporate Governance and Affiliated Companies

1.	About the Board of Directors

Composition of the Board of Directors

The board of directors consists of standing directors, outside directors and non-standing directors.

Committees under the Board of Directors

We currently have the following management committees serving under the board of directors:

(a)

Board of Directors Management Committee

(b)

Risk Management Committee

(c)

Compensation Committee

(d)

Committee for Recommending Officer Candidates

(e)

Audit Committee Audit Committee

As of March 31, 2017


Name of Committee	Composition	Names of Members
Board of directors management committee	One standing director Five outside directors One non-standing director	Kwang-Goo Lee (standing director) Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director) Kwang-Woo Choi (non-standing director)

Risk management committee	Three outside directors One non-standing director	Sung-Tae Ro (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Kwang-Woo Choi (non-standing director)

Compensation committee	Five outside directors One non-standing director	Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director) Kwang-Woo Choi (non-standing director)

Committee for recommending officer candidates	One standing director Five outside directors	Kwang-Goo Lee (standing director) Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director)

Audit Committee	Two outside directors One standing director	Sang-Hoon Shin (outside director) Dong-Woo Chang (outside director) Jung-Sik Oh (standing director)

Three committees which had previously existed (i.e., Committee for recommending officer candidates, Committee for recommending outside director candidates, Committee for recommending audit committee member candidates) were integrated into a single committee (Committee for recommending officer candidates) through an amendment to the Articles of Incorporation at the EGM held on December 30, 2016 [Related Disclosure : Report on Form 6-K, submitted by Woori Bank on December 30, 2016, entitled “Results of the Extraordinary General Meeting of Shareholders

2.	Affiliated Companies (as of March 31, 2017)

LOGO

VI.

Shareholder Information

1.	Share Distribution

a.	Share Information of the Largest Shareholder and Specially Related Parties

As of March 31, 2017

(units: shares, %)

Name

Relation

Type

Shares Held

Notes

Beginning balance

Ending balance

Stock

Share

Stock

Share

Korea Deposit Insurance Corporation(KDIC)

Largest Shareholder

Common

157,977,161

23.37

144,457,161

21.37

Note 1)

Total

Common

157,977,161

23.37

144,457,161

21.37

Others

—

Note 1) As of Jan. 31, 2017, the KDIC’s equity interest in Woori Bank decreased from 157,977,161 shares of common stock to 144,457,161 shares of common stock, or 23.37% to 21.37%. [Related Disclosure : Report on Form 6-K, submitted by Woori Bank on February 1, 2017, entitled “Change in the Number of Shares Owned by the Largest Shareholder of Woori Bank”]

b.	Changes in the largest shareholder


As of March 31, 2017		(units: shares, %)

Change of Date

Largest Shareholder

Stock Held

Share

Notes

January 1, 2014

Woori Finance Holdings

596,690,380

100.00

November 1, 2014

Korea Deposit Insurance Corporation

385,285,578

56.79

Merger date of Woori Finance

Holdings and Woori Bank

December 8, 2014

Korea Deposit Insurance Corporation

345,142,556

51.04

Sale of stake

October 2, 2015

Korea Deposit Insurance Corporation

345,142,556

51.06

Change in the share ownership ratio

due to the retirement of shares

December 1, 2016

Korea Deposit Insurance Corporation

239,097,161

35.37

Sales of stakes to

Tongyang Life Insurance,

Eugene Asset Management,

Mirae Asset Global Investments and Korea Investment & Securities

December 8, 2016

Korea Deposit Insurance Corporation

185,017,161

27.37

Sales of stakes to

Kiwoom Securities and

Hanwha Life Insurance

December 14, 2016

Korea Deposit Insurance Corporation

157,977,161

23.37

Sale of stake to

IMM PE

January 31, 2017

Korea Deposit Insurance Corporation

144,457,161

21.37

Sale of stake to

IMM PE

*	Upon the consummation of the merger of Woori Finance Holdings with and into Woori Bank on November 1, 2014, 596,690,380 shares of the Bank were cancelled and 676,278,371 new shares were issued.

c.	Share Ownership of More Than 5%


As of March 31, 2017			(units: shares, %)
No.	Name	Shares				Notes
No.	Name	Number of shares		Percentage of shareholding		Notes
1	Korea Deposit Insurance Corporation		144,457,161		21.37	—
2	National Pension Service		50,332,224		7.45	Note 1)
Employee Stock Ownership Association			29,174,933		4.32	—

Note1) Number of shares of the National Pension Service is as of 2016.12.31

2.	Stock Price and Stock Market Performance

a.	Domestic Stock Market

(units: Won, shares)


Period		October 2016		November 2016		December 2016		January 2017		February 2017		March 2017
Common Stock	High		12,800		12,750		13,350		13,100		13,800		13,850
	Low		11,350		12,000		12,300		12,300		13,150		13,000
	Average		12,012		12,256		12,978		12,765		13,493		13,439
Monthly Trade Volume	High		6,661,567		4,474,101		6,633,125		2,752,633		2,312,402		2,169,077
	Low		660,119		616,997		925,781		604,408		560,219		651,791
	Monthly Total		34,193,073		36,177,067		36,753,610		25,380,245		22,436,858		27,612,985

*	Source: KRX KOSPI Market

*	Share prices are based on closing prices.

b.	Foreign Stock Market (NYSE)

(units: US Dollars, ADRs)


Period		October 2016		November 2016		December 2016		January 2017		February 2017		March 2017
ADR	High		33.93		33.29		35.70		34.17		36.67		37.25
	Low		30.42		30.81		31.96		31.18		34.82		34.70
	Average		31.98		31.62		33.22		32.83		35.81		35.95
Won Conversion	High		38,493		38,003		42,632		39,562		42,240		42,145
	Low		34,170		36,426		37,476		37,076		40,583		39,999
	Average		35,996		36,741		39,277		38,904		40,997		40,790
Monthly Trade Volume	High		17,200		11,900		79,400		19,000		14,300		20,000
	Low		800		500		1,400		1,100		1,100		600
	Monthly Total		85,700		106,500		265,000		106,900		85,900		89,400

*	Source: standard trading rate (daily and monthly average) (Seoul Money Brokerage, www.smbs.biz)

*	One ADR represents three common shares.

*	Share prices are based on closing prices.

VII.

Directors and Employee Information

1.	Directors


As of March 31, 2017			(units: shares)
Position			Name	Common Stock Owned	Expiration of Term
President & CEO	Registered	Standing	Kwang-Goo Lee	21,251	Note 1 )
Standing Member of Audit Committee	Registered	Standing	Jung-Sik Oh	-*	Note 1 )
Outside Director	Registered	Non-Standing	Sung-Tae Ro	—	December 30, 2018
Outside Director	Registered	Non-Standing	Sang-Hoon Shin	10,000	December 30, 2018
Outside Director	Registered	Non-Standing	Sang-Yong Park	—	December 30, 2018
Outside Director	Registered	Non-Standing	Zhiping Tian	—	December 30, 2018
Outside Director	Registered	Non-Standing	Dong-Woo Chang	—	December 30, 2018
Non-standing Director	Registered	Non-Standing	Kwang-Woo Choi	—	Note 2)
Executive Vice President	Non-Registered	Standing	Ki-Myung Nam	8,049	December 8, 2017
Executive Vice President	Non-Registered	Standing	Tae-Seung Sohn	17,127	December 8, 2017
Executive Vice President	Non-Registered	Standing	Won-Jai Jeong	20,582	December 8, 2017
Executive Vice President	Non-Registered	Standing	An-Ho Jang	17,448	December 8, 2017
Executive Vice President	Non-Registered	Standing	Woon-Haeng Cho	22,345	December 8, 2017
Executive Vice President	Non-Registered	Standing	Hong-Hee Kim	13,071**	December 8, 2017
Executive Vice President	Non-Registered	Standing	Kwang-Seok Kwon	8,057	December 8, 2017
Executive Vice President	Non-Registered	Standing	Jae-Hyun Cho	8,000	December 8, 2017
Executive Vice President	Non-Registered	Standing	Jung-Hoon Choi	17,330	December 3, 2017
Executive Vice President	Non-Registered	Standing	Sun-Kyu Kim	19,094	December 8, 2017
Executive Vice President	Non-Registered	Standing	Hyun-Seok Shin	12,525	December 8, 2017
Executive Vice President	Non-Registered	Standing	Seong-Il Park	12,314	December 8, 2017
Managing Director	Non-Registered	Standing	Dong-Yeon Lee	12,115	December 3, 2017
Managing Director	Non-Registered	Standing	Chai-Pong Cheong	9,925	December 8, 2018
Managing Director	Non-Registered	Standing	Chang-Jae Lee	12,188	December 8, 2018
Managing Director	Non-Registered	Standing	Yeong-Bae Kim	14,831	December 3, 2017
Managing Director	Non-Registered	Standing	Jong-In Lee	8,857	December 8, 2018
Managing Director	Non-Registered	Standing	Hyun-Poong Hong	15,860	December 8, 2018
Managing Director	Non-Registered	Standing	Gyu-Song Cho	19,303	December 3, 2017
Managing Director	Non-Registered	Standing	Jeong-Jin Heo	9,483	December 3, 2017
Managing Director	Non-Registered	Standing	Tae-Joong Ha	9,831	December 8, 2018
Managing Director	Non-Registered	Standing	Won-Duk Lee	—	December 8, 2018
Managing Director	Non-Registered	Standing	Jeong-Ki Kim	18,721	December 8, 2018
Managing Director	Non-Registered	Standing	Dae-Jin Lee	24,958	December 8, 2018

Note 1) End of Term : The end of the AGM to be held in Mar. 2019

Note 2) End of Term : The end of the AGM to be held in Mar. 2018

*	1,350 shares as of May 15, 2017

**	18,071 shares as of May 15, 2017

2.	Employee Status

As of March 31, 2017

(units: persons, millions of Won)

Staff

Average
Tenure
Years

Cumulative
Compensation

Average
Compensation
Per Person

Note

Regular

Contract

Others

Total

14,971

769

—

15,740

17.1

465,679

Note1)

*	Average years of continuous service excludes contract employees and locally hired employees overseas.

*	Excludes management salaries (sales center head or higher) and overseas salaries.

Note1) When excluding amount decided in2016 and paid in 2017, cumulative compensation is 382,125 million KRW (Average compensation per person is 24 million KRW)

3.	Directors’ Compensation


As of March 31, 2017		(units: persons, millions of Won)

Items	Number of Persons		Total Compensation		Average Compensation Per Director		Note
Registered Directors (excludes outside directors and audit committee members)		2		100		50		—
Outside Directors (excludes audit committee members)		3		52		17		—
Audit Committee Members		4		127		32		—
Total		9		279		31		—

*	Number of persons : includes the outside directors and audit committee members that resigned in 2017

(as of March 31, 2017, there are two registered directors, three outside directors and three members of the Audit Committee)

*	There is no compensation paid to the non-standing director from the KDIC, who has been excluded from the number of persons

*	Total compensation : cumulative amount paid from January to March of 2017

VIII.

Related Party Transactions

Extensions of Credit to Major Shareholders, Etc.

As of March 31, 2017

(unit: millions of Won)

Name

Item

Current
Balance

Origination
Date

Maturity
Date

Korea Deposit

Insurance Corporation

Loans

100,000

August 29, 2016

August 28, 2017

Loans

200,000

August 29, 2016

August 28, 2017

Bonds

150,041

January 4, 2012, etc.

January 22, 2018, etc.

Woori Investment Bank

Loans

25,000

March 10, 2016

March 2, 2018

CMA

70,000

September 24, 2015

June 30, 2017

Woori Card

Loans

250,000

April 1, 2013

March 2, 2018

Woori P&S

Loans

8,300

March 7, 2011

March 8, 2021

Loans

10,096

May 25, 2016

May 25, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	Woori Bank
	(Registrant)

Date: May 15, 2017	By:	/s/ Hyun Seok Shin
	(Signature)

	Name: Hyun Seok Shin
	Title: Executive Vice President