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 November 2016

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 x 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 2016 3Q Business Report
2.		Exhibit 99.1 Woori Bank Review Report for 2016 3Q (Consolidated)
3.		Exhibit 99.2 Woori Bank Review Report for 2016 3Q (Separate)

Summary of 2016 Third Quarter Business Report

Table of Contents


I. INTRODUCTION OF THE BANK		5

1.	Overview of the Bank	5

2.	Capital Structure (Changes in Capital)	9

3.	Total Number of Authorized Shares	10

4.	Voting Rights	10

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		20

1.	Condensed Financial Statements (Consolidated)	20

2.	Condensed Financial Statements (Separate)	22

IV. INDEPENDENT AUDITOR’S OPINION		24

1.	Independent Auditor’s Opinion	24

2.	Compensation to the Independent Auditor for the Past Three Years	24

V. CORPORATE GOVERNANCE AND AFFILIATED COMPANIES		25

1.	About the Board of Directors	25

2.	Affiliated Companies	27

VI. SHAREHOLDER INFORMATION		28

1.	Share Distribution	28

2.	Stock Price and Stock Market Performance	29

VII. DIRECTORS AND EMPLOYEE INFORMATION		30

1.	Directors	30



2.	Employee Status	30

3.	Directors’ Compensation	31

VIII. RELATED PARTY TRANSACTIONS		31

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 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.

b.	Affiliated Companies

(1)

Overview of Business Group

Name of business group: Woori Bank

(2)

Affiliated companies within the business group

As of September 30, 2016


Type	Name of Company	Controlling Company	Notes
Company	Woori Bank	Korea Deposit Insurance Corporation	1 company

FirstTier Subsidiaries	Woori Card (equity ownership 100.0%)	Woori Bank	16 companies
	Woori Investment Bank (equity ownership 58.15%)
	Woori FIS (equity ownership 100.0%)
	Woori Private Equity (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%)
	Woori America Bank (equity ownership 100.0%)
	Woori Bank China Limited (equity ownership 100.0%)
	PT. Bank Woori Saudara Indonesia (equity ownership 74.02%)
	ZAO Woori Bank (equity ownership 100.0% - 1 share)
	Woori Bank Brasil (equity ownership 100.0% - 1 share)
	Woori Global Markets Asia Ltd. (equity ownership 100.0%)
	Woori Finance Cambodia (equity ownership 100.0%)
	Woori Finance Myanmar (equity ownership 100.0%)
	Korea BTL Infrastructure Fund (equity ownership 99.87%)

Second Tier Subsidiaries	Woori Private Equity Fund (equity ownership 2.94%)	Woori Private Equity	3 companies
	Woori Blackstone Korea Opportunity Private Equity Fund No.1 (equity ownership 4.95%)
	Woori Columbus Private Equity Fund No.1 (equity ownership 1.92%)

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

2.	Capital Structure (Changes in Capital)


As of September 30, 2016				(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*

*	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 September 30, 2016				(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 30, 2015, entitled “Decision to Terminate Trust Agreement for Acquisition of Treasury Shares”]

4.	Voting Rights


As of September 30, 2016				(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		—
Number of shares without voting rights	Preferred Shares		—		—
Number of shares for which voting rights are excluded pursuant to the articles of incorporation	—		—		—
Number of shares for which voting rights are limited by law	—		—		—
Number of shares for which voting rights have been restored	—		—		—
Number of shares for which voting rights may be exercised	Common Shares		673,271,226		—
Number of shares for which voting rights may be exercised	Preferred Shares		—		—

5.	Dividend Information


Items		3Q 2016		2015		2014
Par value per share (Won)			5,000		5,000		5,000
Net profit (Millions of Won)			1,105,915		1,059,157		1,213,980
Earnings per share (Won)			1,421		1,301		1,621
Total cash dividends (Millions of Won)			—		336,636		336,636
Total stock dividends (Millions of Won)			—		—		—
Cash dividend payout ratio (%)			—		31.8		27.7
Cash dividend yield (%)	Common Shares		—		5.5		4.6
Cash dividend yield (%)	Preferred Shares		—		—		—
Stock dividend yield (%)	Common Shares		—		—		—
Stock dividend yield (%)	Preferred Shares		—		—		—
Cash dividend per share (Won)	Common Shares		—		500		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 the interim dividend amount

II.

Business Overview

1.	Results of Operations


As of September 30, 2016				(unit: in 100 millions of Won)


Type	3Q 2016		3Q 2015		2015		2014
Operating income		13,892		9,686		13,516		8,977
Non-operating income		1,001		2,893		3,140		1,871
Non-operating expenses		1,300		1,680		2,136		2,505
Ordinary profits		13,594		10,899		14,519		8,344
Income from continuing operations before income tax		13,594		10,899		14,519		8,344
Income tax expense from continuing operations		2,422		2,360		3,766		2,882
Income from discontinued operations		—		—		—		6,618
Net income		11,172		8,539		10,754		12,080

*	Based on K- IFRS consolidated financial statements

2.	Business Performance by Operation

a.	Deposit Services


As of September 30, 2016				(unit: in millions of Won)


Type		3Q 2016			2015			2014
Deposits received in local currency	Demand deposits		9,206,686			9,728,839			10,090,773
	Money trusts		1,325,492			1,304,268			1,281,539
	Fixed deposits		184,063,818			175,598,522			161,697,250
	Mutual funds		38,108			40,888			46,072
	CDs		3,802,876			2,435,087			740,090
	Other deposits received		1,124,315			922,749			762,896
Deposits received in foreign currencies			20,930,400			19,129,214			13,902,989
Present value discount			(26,110	)		(17,739	)		(5,143	)
Total			220,465,585			209,141,826			188,516,465

*	Based on K- IFRS consolidated financial statements

b.	Loan Services

(a)

Balances of Loans by Type


As of September 30, 2016				(unit: in millions of Won)


Type	3Q 2016		2015		2014
Loans in local currency		190,962,372		185,154,851		167,261,591
Loans in foreign currencies		17,158,361		17,910,253		16,993,065
Guarantee payments		52,793		44,242		52,619
Total		208,173,527		203,109,346		184,307,275

*	Based on K- IFRS consolidated financial statements

(b)

Loans by Purpose of Funds


As of September 30, 2016				(unit: in millions of Won)


Type		3Q 2016		2015		2014
Corporate loans	Working capital loans		48,284,303		50,646,880		48,919,570
	Facilities loans		36,315,437		32,858,237		28,475,804
Household loans			53,273,953		51,606,328		50,392,130
Public and other loans	Working capital loans		1,718,728		2,585,869		3,894,210
	Facilities loans		1,753,229		1,741,230		1,767,074
Mortgage loans			49,410,993		44,812,233		32,652,798
Inter-bank loans			133,594		834,301		1,080,971
Other loans			72,135		69,771		79,032
Total			190,962,372		185,154,851		167,261,591

*	Balance of loans in local currency based on K- IFRS consolidated financial statements

(c)

Loan-to-deposit ratio


				(unit: in 100 millions of Won, %)


Type	3Q 2016		2015		2014
Loans in local currency		1,903,213		1,857,984		1,684,250
Deposits received in local currency (excluding CDs)		1,913,014		1,846,329		1,728,557
Ratio		97.91		98.83		97.13

*	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 September 30, 2016				(unit: in millions of Won)


Type	3Q 2016		2015		2014
Confirmed guarantees		7,888,345		9,069,247		9,274,450
Unconfirmed guarantees		4,609,395		6,631,055		6,539,629
Commercial paper purchase commitments and others		1,420,731		1,615,141		2,213,840
Total		13,918,471		17,315,443		18,027,919

*	Based on K- IFRS consolidated financial statements

d.	Securities Investment


As of September 30, 2016				(unit: in millions of Won)


Type	3Q 2016		2015		2014
Securities at fair value through profit or loss		2,775,819		2,717,276		2,428,897
Available-for-sale financial assets		19,495,352		17,170,592		18,810,845
Held-to-maturity financial assets		13,853,700		13,621,640		13,044,448
Investments in associates		419,532		643,861		648,436
Total		36,544,403		34,153,369		34,932,626

*	Based on K- IFRS consolidated financial statements

e.	Trust Business


As of September 30, 2016				(unit: in millions of Won)


Type	3Q 2016				2015				2014
Type	Trust Funds		Trust Fees		Trust Funds		Trust Fees		Trust Funds		Trust Fees
Money trust		25,409,801		52,715		23,980,475		49,973		19,551,616		40,748
Property trust		12,822,719		4,099		9,354,003		1,323		10,355,167		1,066
Total		38,232,520		56,814		33,334,478		51,296		29,906,783		41,814

*	Trust funds indicate average balances.

3.	Funding Sources and Use of Funds

a.	Sources of Funds

[Bank Accounts]

(Unit: in millions of Won, %)


Classification	Funding Source	3Q 2016						2015						2014
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		182,265,964		1.41		65.25		169,919,620		1.70		64.76		157,994,039		2.22		66.89
	Certificates of deposit		3,339,645		1.73		1.20		1,879,832		1.92		0.72		1,983,619		2.71		0.84
	Borrowings in local currency		6,722,091		1.50		2.41		6,689,135		1.77		2.55		5,675,238		2.31		2.40
	Call money in local currency		1,026,511		1.37		0.37		1,370,253		1.62		0.52		984,378		2.28		0.42
	Others		18,373,163		2.66		6.58		18,944,493		2.95		7.22		15,925,666		3.69		6.74
	Subtotal		211,727,375		1.52		75.80		198,803,334		1.82		75.77		182,562,940		2.36		77.29
Foreign currency funds	Deposits received in foreign currencies		14,798,095		0.48		5.30		11,568,322		0.44		4.41		7,973,812		0.44		3.38
	Borrowings in foreign currencies		8,662,389		0.85		3.10		9,245,073		0.53		3.52		6,357,072		0.50		2.69
	Call money in foreign currencies		1,377,504		0.72		0.49		1,199,484		0.53		0.46		1,242,371		0.54		0.53
	Debentures in foreign currencies		4,018,870		2.55		1.44		4,851,289		2.72		1.85		5,559,305		3.51		2.35
	Others		553,230		0.33		0.20		650,409		0.66		0.25		918,010		1.03		0.39
	Subtotal		29,410,088		0.88		10.53		27,514,577		0.88		10.49		22,050,569		1.26		9.34
Other	Total capital		19,260,458		—		6.90		18,501,137		—		7.05		18,225,902				7.72
	Provisions		438,584		—		0.16		640,666		—		0.24		594,945				0.25
	Others		18,501,750		—		6.62		16,907,843		—		6.44		12,779,094				5.41
	Subtotal		38,200,792		—		13.68		36,049,647		—		13.74		31,599,941				13.38
Total			279,338,255		1.25		100.00		262,367,557		1.47		100.00		236,213,449		1.94		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(Unit: in millions of Won, %)


Type	Funding Source	3Q 2016							2015						2014
Type	Funding Source	Average Balance		Interest Rate			Share		Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share
Cost	Money trusts		25,409,801		1.60	%		66.26		23,980,475		1.88		71.71		19,551,616		2.50		65.18
	Borrowings		—		—			—		—		—		—		—		—		—
	Subtotal		25,409,801		1.60	%		66.26		23,980,475		1.88		71.71		19,551,616		2.50		65.18
Non-cost	Property trusts		12,822,719		—			33.44		9,354,003		—		27.97		10,355,167		—		34.52
	Special reserves		38,155		—			0.10		37,989		—		0.11		37,195		—		0.12
	Other		76,567		—			0.20		70,265		—		0.21		50,659		—		0.17
	Subtotal		12,937,441		—			33,74		9,462,257		—		28.29		10,443,021		—		34.82
Total			38,347,242		—			100.00		33,442,732		—		100.00		29,994,637		—		100.00

b.	Fund Management Performance

[Bank Accounts]

(Unit: in millions of Won, %)


Type	Managed Item	3Q 2016								2015								2014
Type	Managed Item	Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share
Funds in local currency	Deposits in local currency		2,506,220			1.39		0.90			2,580,842			1.72		0.98			2,670,185			2.37		1.13
	Marketable securities in local currency		33,729,931			2.74		12.07			32,994,958			2.79		12.58			31,496,840			3.40		13.33
	Loans in local currency		188,464,796			3.13		67.47			176,631,188			3.42		67.32			161,296,709			4.18		68.28
	Guarantee payments		52,370			1.02		0.02			64,533			1.89		0.02			69,099			4.27		0.03
	Call loans in local currency		3,824,760			1.44		1.37			2,083,053			1.64		0.79			2,186,891			2.32		0.93
	Private placed ponds		251,277			5.19		0.09			280,702			5.98		0.11			470,988			4.12		0.20
	Credit card receivables		32			—		0.00			—			—		—			6			—		0.00
	Other		4,460,511			2.12		1.60			4,313,781			2.61		1.64			3,967,556			3.50		1.68
	Bad debt expense in local currency (-)		(2,035,630	)		—		(0.73	)		(2,482,955	)		—		(0.95	)		(3,073,009	)		—		(1.30	)
	Subtotal		231,254,266			3.04		82.79			216,466,103			3.31		82.50			199,085,264			4.06		84.28
Funds in foreign currencies	Deposits in foreign currencies		3,881,521			0.42		1.39			2,872,735			0.28		1.09			2,044,084			0.47		0.87
	Marketable securities in foreign currencies		1,657,181			1.12		0.59			1,375,146			1.51		0.52			1,073,932			0.85		0.45
	Loans in foreign currencies		13,172,009			1.97		4.72			14,206,736			1.65		5.41			12,364,024			1.71		5.23
	Call loans in foreign currencies		3,065,454			0.82		1.10			2,040,819			0.59		0.78			1,347,232			0.94		0.57
	Bills bought		6,842,993			1.55		2.45			6,899,811			1.38		2.63			5,425,038			1.40		2.30
	Other		11,329			12.79		0.00			17,047			6.96		0.01			19,509			6.36		0.01
	Bad debt expense in foreign currencies (-)		(296,307	)		—		(0.11	)		(191,224	)		—		(0.07	)		(239,896	)		—		(0.10	)
	Subtotal		28,334,179			1.50		10.14			27,221,069			1.37		10.38			22,033,923			1.46		9.33
Other	Cash		1,163,678			—		0.42			1,116,715			—		0.43			1,076,521			—		0.46
	Property and equipment for business purposes		2,324,925			—		0.83			2,328,130			—		0.89			2,358,135			—		1.00
	Other		16,261,207			—		5.82			15,235,540			—		5.81			11,659,606			—		4.94
	Subtotal		19,749,810			—		7.07			18,680,385			—		7.12			15,094,262			—		6.39
Total			279,338,255			2.67		100.00			262,367,557			2.87		100.00			236,213,449			3.56		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(Unit: in millions of Won, %)


Type	Managed Item	3Q 2016							2015								2014
Type	Managed Item	Average Balance			Interest Rate		Share		Average Balance			Interest Rate			Share		Average Balance			Interest Rate		Share
Profit	Loans		23,154			4.18		0.06		19,482			4.05			0.06		24,201			3.61		0.08
	Securities		4,385,026			1,96		11,44		3,470,064			(0.57	)		10.38		3,189,405			3.34		10.63
	Call Loans		—			—		—		—			—			—		—			—		—
	Other		21,932,567			1,65		57191		21,231,787			2.00			63.49		17,055,060			3.61		56.86
	Reserves for bond ratings (-)		(38	)		0.00		0.00		(68	)		—			0.00		(101	)		0.00		(0.00	)
	Present value discount (-)		(236	)		0.00		0.00		(414	)		—			0.00		(663	)		0.00		(0.00	)
	Subtotal		26,340,473			1,71		68.69		24,720,851			1.64			73.92		20,267,902			3.57		67.57
Non-profit	Subtotal		12,006,769			—		31.31		8,721,881			—			26.08		9,726,735			—		32.43
Total			38,347,242			—		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: in 100 millions of Won)


Type	3Q 2016		2015		2014
Equity capital (A)		219,590		210,514		208,577
Risk weighted assets (B)		1,534,832		1,540,709		1,463,230
Capital adequacy ratio (A/B)		14.31		13.66		14.25

*	Based on Basel III standards

*	Based on K-IFRS consolidated financial statements

*	The 3Q 2016 figures change (equity capital to 217,666, risk weighted assets to 1,361,179, capital adequacy ratio to 15.99%) when excluding the five subsidiaries that were newly included after the merger with Woori Finance Holdings.

Liquidity Ratios

(unit: %)


Type		3Q 2016		2015		2014
Liquidity coverage ratio/local currency liquidity ratio (**)			111.16		106.67		123.10
Foreign currency liquidity ratio	Before application of weight of securitization		126.76		130.30		130.29
Foreign currency liquidity ratio	After application of weight of securitization		117.40		120.71		121.29
Ratio of business purpose premises and equipment			13.59		14.36		14.57

*	Based on K-IFRS financial statements

**	3Q 2016 and 2015: Liquidity coverage ratio based on K-IFRS consolidated financial statements,

2014 : Local currency liquidity ratio based on K-IFRS separate financial statements

b.	Asset Quality

(unit: in 100 millions of Won)


Type		3Q 2016			2015			2014
Total loans	Total		2,147,864			2,108,424			1,919,086
	Corporate		1,154,600			1,185,857			1,124,815
	Household		993,263			922,567			794,271
Sub-standard and below loans Sub-standard and below loan ratio	Total		22,582			31,009			40,216
	Total		1.05% ***			1.47% ***			2.10% ***
	Corporate		19,676			27,701			35,482
	Corporate		1.70	%		2.34	%		3.15	%
	Household		2,906			3,308			4,734
	Household		0.29	%		0.36	%		0.60	%
Delinquency ratio	Based on total loans (after seasonal adjustment)		0.58	%		0.82	%		0.88	%
	Based on total loans (after seasonal adjustment)		(0.61	%)		(0.93	%)		( 1.02	%)
	Based on corporate loans (after seasonal adjustment)		0.82	%		1.39	%		1.23	%
	Based on corporate loans (after seasonal adjustment)		(0.88	%)		(1.57	%)		( 1.48	%)
	Based on household loans (after seasonal adjustment)		0.35	%		0.39	%		0.65	%
	Based on household loans (after seasonal adjustment)		(0.36	%)		(0.43	%)		( 0.76	%)

*	Based on K-IFRS separate financial statements

**	Credit card receivables were transferred to Woori Card due to the spin off of the credit card business segment (spin off date: April 1, 2013).

***	The sub-standard and below loan ratio excluding four shipbuilders are 0.97% for 3Q 2016, 1.15% for 2015, and 1.52% for 2014.

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

On August 22, 2016, the Public Fund Oversight Committee announced its plan to privatize around 30% of the KDIC’s 51.06% stake in the Bank, by splitting the stake into smaller portions and receiving competing bids for each portion in a quantity of shares of the bidder’s choice from 4 to 8 percent for each portion (with successful bids to be determined in the order of price). In accordance with such plan, the KDIC commenced its sale process with an announcement of the sale on August 24, 2016 and received letters of intent from 18 potential investors on September 24, 2016. The Public Fund Oversight Committee concluded its bidding process on November 11, 2016 and on November 13, 2016 announced its decision to sell 29.7% of its shareholding in the Bank to seven bidders in transactions expected to be consummated by the end of the year.

III.

Financial Information

1.	Condensed Financial Statements (Consolidated)

Summary Consolidated Statement of Financial Position


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


Classification	3Q 2016			2015			2014
ASSETS
Cash and cash equivalents		8,281,510			6,644,055			5,962,861
Financial assets at fair value through profit or loss		5,717,809			5,132,657			4,554,180
Available-for-sale financial assets		19,495,352			17,170,592			18,810,845
Held-to-maturity financial assets		13,853,700			13,621,640			13,044,448
Loans and receivables		261,188,233			244,842,062			223,370,135
Investments in joint ventures and associates		419,532			643,861			648,436
Investment properties		368,063			351,496			357,550
Premises and equipment		2,437,926			2,471,206			2,501,102
Intangible assets and goodwill		418,543			419,806			295,728
Assets held for sale		14,445			17,904			8,013
Current tax assets		5,484			6,782			4,845
Deferred tax assets		145,363			210,597			257,858
Derivative assets		273,499			183,128			196,061
Other assets		212,405			143,286			145,157
Total assets		312,831,864			291,859,072			270,157,219
LIABILITIES
Financial liabilities at fair value through profit or loss		3,725,749			3,460,561			2,675,354
Deposits due to customers		220,465,585			209,141,826			188,516,465
Borrowings		17,220,127			20,033,917			17,707,595
Debentures		23,193,170			21,898,859			24,795,904
Provisions		420,844			516,601			692,009
Net defined benefit liability		70,092			99,691			75,591
Current tax liabilities		47,743			108,943			298,762
Deferred tax liabilities		20,110			19,379			21,757
Derivative liabilities		25,175			—			—
Other financial liabilities		26,725,880			16,964,206			16,889,687
Other liabilities		327,632			305,174			390,670
Total liabilities		292,242,107			272,549,157			252,063,794
EQUITY
Owners’ equity:		20,458,072			19,188,472			17,983,501
Capital stock		3,381,392			3,381,392			3,381,392
Hybrid securities		3,883,907			3,334,002			2,538,823
Capital surplus		294,260			294,259			291,066
Other equity		(1,615,701	)		(1,547,303	)		(2,393,138	)
Retained earnings		14,514,214			13,726,122			14,165,358
Non-controlling interests		131,685			121,443			109,924
Total equity		20,589,757			19,309,915			18,093,425
Total liabilities and equity		312,831,864			291,859,072			270,157,219
Number of Consolidated Subsidiaries		71			71			78

Summary Consolidated Statement of Comprehensive Income


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


Classification	3Q 2016			3Q 2015			2015			2014
OPERATING INCOME:		1,389,221			968,573			1,351,586			897,708
Net interest income		3,745,200			3,517,680			4,761,900			4,493,018
Net fees and commissions income		709,513			745,151			976,796			917,015
Dividend income		137,280			90,973			102,923			96,812
Gain on financial instruments at fair value through profit or loss		(43,766	)		151,641			240,342			189,912
Gain on available-for-sale financial assets		32,772			(44,646	)		(3,281	)		(68,924	)
Impairment losses due to credit loss		(670,843	)		(925,691	)		(966,646	)		(1,096,940	)
General and administrative expenses		(2,411,782	)		(2,285,654	)		(3,150,387	)		(2,958,919	)
Other net operating income (expenses)		(109,153	)		(280,881	)		(610,061	)		(674,266	)
Non-operating income		(29,825	)		121,304			100,360			(63,313	)
Net income before income tax expense from continuing operations		1,359,396			1,089,877			1,451,946			834,395
Income tax expense from continuing operations		242,217			235,983			376,554			288,195
Net income from continuing operations		1,117,179			853,894			1,075,392			546,200
Net income from discontinued operations		—			—			—			661,769
Net income		1,117,179			853,894			1,075,392			1,207,969
Net income attributable to owners		1,105,915			840,150			1,059,157			1,213,980
Profit from continuing operations		1,105,915			840,150			1,059,157			435,289
Profit from discontinued operations		—			—			—			778,691
Net income attributable to the non-controlling interests		11,264			13,744			16,235			(6,011	)
Profit from continuing operations		11,264			13,744			16,235			110,911
Profit from discontinued operations		—			—			—			(116,922	)
Other comprehensive income (loss), net of tax		(68,145	)		61,500			31,162			(107,597	)
Items that will not be reclassified to profit or loss		(52,788	)		(52,029	)		(78,267	)		(51,650	)
Items that may be reclassified to profit or loss		(15,357	)		113,529			109,429			(55,947	)
Total comprehensive income		1,049,034			915,394			1,106,554			1,100,372
Comprehensive income attributable to the owners		1,037,516			909,901			1,094,870			1,192,191
Comprehensive income attributable to non-controlling interests		11,518			5,493			11,684			(91,819	)
NET INCOME PER SHARE:
Continuing and discontinued operations
Basic earnings per common share		1,421			1,048			1,301			1,621
Continuing operations
Basic earnings per common share		1,421			1,048			1,301			536

2.	Condensed Financial Statements (Separate)

Summary Statement of Financial Position


(The Bank)				(unit: in millions of Won)


Classification	3Q 2016		2015		2014
ASSETS
Cash and cash equivalents		7,321,197		5,440,326		4,668,916
Financial assets at fair value through profit or loss		4,090,330		3,569,625		3,097,309
Available-for-sale financial assets		17,331,491		15,869,654		17,791,224
Held-to-maturity financial assets		13,735,813		13,527,452		12,989,894
Loans and receivables		245,715,586		231,083,160		210,640,380
Investments in subsidiaries and associates		3,579,582		3,730,247		3,619,036
Investment properties		358,506		344,892		350,785
Premises and equipment		2,318,969		2,341,506		2,348,450
Intangible assets		201,329		187,520		43,186
Assets held for sale		13,989		17,904		6,837
Current tax assets		—		—		1,058
Deferred tax assets		60,988		172,368		193,453
Derivative assets		273,499		183,128		196,061
Other assets		176,983		109,126		124,712
Total assets		295,178,262		276,576,908		256,071,301
LIABILITIES
Financial liabilities at fair value through profit or loss		3,713,079		3,448,180		2,670,358
Deposits due to customers		212,077,602		201,353,128		181,288,444
Borrowings		15,056,318		18,760,947		16,139,529
Debentures		18,174,443		17,259,749		20,998,041
Provisions		365,985		467,887		667,286
Net defined benefit liability		6,759		45,678		43,381
Current tax liabilities		33,844		77,190		261,228
Derivative liabilities		25,175		—		—
Other financial liabilities		25,512,321		16,111,469		15,857,059
Other liabilities		177,500		163,362		289,570
Total liabilities		275,143,026		257,687,590		238,214,896
EQUITY
Capital stock		3,381,392		3,381,392		3,381,392
Hybrid securities		3,883,907		3,334,002		2,538,823
Capital surplus		269,533		269,533		269,533
Other equity		54,772		106,016		(695,522	)
Retained earnings		12,445,632		11,798,375		12,362,179
Total equity		20,035,236		18,889,318		17,856,405
Total liabilities and equity		295,178,262		276,576,908		256,071,301

Summary Statement of Comprehensive Income


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


Classification	3Q 2016			3Q 2015			2015			2014
OPERATING INCOME:		1,148,374			744,170			1,090,372			870,894
Net interest income		3,174,046			3,003,024			4,052,479			4,090,778
Net fees and commissions income		639,914			648,242			856,343			795,292
Dividend income		176,184			127,581			169,009			183,452
Gain on financial instruments at fair value through profit or loss		(54,867	)		132,945			220,282			169,537
Gain on available-for-sale financial assets		57,061			(45,555	)		(7,960	)		(92,379	)
Impairment losses due to credit loss		(540,504	)		(792,515	)		(766,169	)		(928,492	)
General and administrative expenses		(2,159,408	)		(2,065,927	)		(2,846,490	)		(2,655,157	)
Other net non operating income (expenses)		(144,052	)		(263,625	)		(587,122	)		(692,137	)
Non-operating income		36,394			142,439			144,635			(27,915	)
Net income before income tax expense		1,184,768			886,609			1,235,007			842,979
Income tax expense		219,688			170,849			300,418			196,681
Net income from continuing operations		965,080			715,760			934,589			646,298
Net income from discontinued operations		—			—			—			—
Net income		965,080			715,760			934,589			646,298
Other comprehensive income (loss), net of tax		(51,244	)		36,406			(8,583	)		4,887
Items that will not be reclassified to profit or loss		(52,105	)		(50,681	)		(73,591	)		(58,468	)
Items that may be reclassified to profit or loss		861			87,087			65,008			63,355
Total comprehensive income		913,836			752,166			926,006			651,185
NET INCOME PER SHARE:
Basic & diluted earnings per common share		1,212			864			1,116			842

IV.

Independent Auditor’s Opinion

1.	Independent Auditor’s Opinion


	3Q 2016	2015	2014
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

(units: Won, hours)


Term	Auditor	Description	Fee	Total Time
3Q 2016	Deloitte Anjin LLC	Closing audit	KRW 1,561 million		—
		Interim audit (including internal accounting management system)			—
		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
2014	Deloitte Anjin LLC	Closing audit	KRW 1,280 million		7,681 hours
		Interim audit (including internal accounting management system)			4,160 hours
		3Q review			3,450 hours
		1H review			3,256 hours
		1Q review			3,143 hours

b.	Non-Audit Services


Term	Date of Execution of Agreement		Description of Service	Service Term	Fees
3Q 2016		3.28.2016	Tax adjustment	Each quarter and end of term	KRW 115 million
		3.28.2016	PCAOB and SOX Auditing	5.1.2016~4.30.2017	KRW 1,127 million
		3.23.2016	Issuance of GMTN-related comfort letter	5.2016	USD 100,000
2015		5.14.2015	Review of Japanese F/S related to Samurai bonds	5.2015 and 9.2015	KRW 74 million
		5.14.2015	Issuance of GMTN-related comfort letter	5.2015	USD 110,000
		4.03.2015	Tax adjustment	Each quarter and end of term	KRW 110 million
		4.03.2015	PCAOB and SOX Auditing	5.1.2015~4.30.2016	KRW 1,094 million
		1.05.2015	Issuance of GMTN-related comfort letter	1.2015	USD 60,000
2014		9.30.2014	Review of Japanese F/S related to Samurai bonds	9.2014	KRW 28 million
		4.30.2014	Tax adjustment	Each quarter and end of term	KRW 105 million
		4.17.2014	Issuance of GMTN-related comfort letter	4~5.2014	USD 110,000

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 Audit Committee Member Candidates

(e)

Committee for Recommending Outside Director Candidates

(f)

Audit Committee

(g)

Committee for Recommending Officer Candidates

As of September 30, 2016


Name of Committee	Composition	Names of Members
Board of directors management committee	One standing director, Six outside directors One non-standing director	Kwang-Goo Lee (standing director) Il-Hwa Hong (outside director) Hesuk Chun (outside director) Han-Gi Jung (outside director) Ho-Geun Lee (outside director) Sungsoo Koh (outside director) Sung-Yong Kim (outside director) Kwang-Woo Choi (non-standing director )

Risk management committee	Three outside directors One non-standing director	Han-Gi Jung (outside director) Il-Hwa Hong (outside director) Ho-Geun Lee (outside director) Kwang-Woo Choi (non-standing director )

Compensation committee	Five outside directors	Sungsoo Koh (outside director) Il-Hwa Hong (outside director) Hesuk Chun (outside director) Han-Gi Jung (outside director) Ho-Geun Lee (outside director)

Committee for recommending audit committee member candidates	Six outside directors	Il-Hwa Hong (outside director) Hesuk Chun (outside director) Han-Gi Jung (outside director) Ho-Geun Lee (outside director) Sungsoo Koh (outside director) Sung-Yong Kim (outside director)

Committee for recommending outside director candidates	One standing director Six outside directors One non-standing director	Kwang-Goo Lee (standing director) Il-Hwa Hong (outside director) Hesuk Chun (outside director) Han-Gi Jung (outside director) Ho-Geun Lee (outside director) Sungsoo Koh (outside director) Sung-Yong Kim (outside director) Kwang-Woo Choi (non-standing director )

Committee for recommending officer candidates	Four outside directors	Il-Hwa Hong (outside director) Hesuk Chun (outside director) Han-Gi Jung (outside director) Ho-Geun Lee (outside director)

Audit Committee	Three outside directors One standing director	Sung-Yong Kim (outside director) Hesuk Chun (outside director) Sungsoo Koh (outside director) Soo-Kyung Chung (standing director)

2.	Affiliated Companies (as of September 30, 2016)

LOGO

VI.

Shareholder Information

1.	Share Distribution

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

As of September 30, 2016

(units: shares, %)

Name

Relation

Type

Shares Held

Notes

Beginning balance

Ending balance

Stock

Share

Stock

Share

Korea Deposit Insurance Corporation

Largest S/H

Common

345,142,556

51.06

345,142,556

51.06

Total

Common

345,142,556

51.06

345,142,556

51.06

Others

—

b.	Changes in the largest shareholder

As of September 30, 2016

(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

c.	Share Ownership of More Than 5%

As of September 30, 2016 (unless otherwise indicated)

(units: shares, %)

No.

Name

Shares

Notes

No. of shares

Percentage of shareholding

Korea Deposit Insurance Corporation

345,142,556

51.06

National Pension Service

33,868,899

5.01

As of

June 8, 2016

Employee Stock Ownership Association

31,081,211

4.50

2.	Stock Price and Stock Market Performance

a.	Domestic Stock Market

(units: Won, shares)


Type		April 2016		May 2016		June 2016		July 2016		August 2016		September 2016
Common Stock	High		10,800		10,400		10,250		10,400		10,650		11,800
	Low		9,220		9,890		9,400		9,430		9,920		10,850
	Average		9,897		10,146		9,950		9,943		10,324		11,340
Monthly Trade Volume	High		4,610,830		5,235,837		4,521,341		4,452,339		3,235,118		2,657,788
	Low		683,730		888,703		841,624		884,149		632,626		1,143,886
	Monthly Total		44,436,900		36,185,974		36,485,552		39,042,741		31,785,156		34,029,264

*	Source: KRX KOSPI Market

*	Share prices are based on closing prices.

b.	Foreign Stock Market (NYSE)

(units: US Dollars, Won, ADRs)


Type		April 2016		May 2016		June 2016		July 2016		August 2016		September 2016
ADR	High		28.31		27.29		26.99		27.54		30.00		32.22
	Low		23.94		25.27		23.97		24.34		26.82		28.99
	Average		25.93		26.01		25.77		26.28		28.08		30.52
Won Conversion	High		32,508		31,051		31,044		31,352		33,033		35,555
	Low		27,653		29,601		28,340		28,064		29,877		32,393
	Average		29,750		30,473		30,159		30,063		31,215		33,804
Monthly Trade Volume	High		77,800		29,100		20,000		103,400		11,600		52,900
	Low		200		300		700		1,100		800		600
	Monthly Total		225,600		109,300		125,800		250,800		78,800		177,700

*	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 September 30, 2016


Position		Name	Common Stock Owned	Expiration of Term
President	Registered	Kwang-Goo Lee	21,251	December 30, 2016
Executive Vice President	Registered	Dong-Gun Lee	10,000	December 30, 2016
Standing Member of Audit Committee	Registered	Soo-Kyung Chung	—	December 30, 2016
Executive Vice President	Registered	Ki-Myung Nam	8,049	December 30, 2016
Outside Director	Registered	Il-Hwa Hong	—	Note 1)
Outside Director	Registered	Hesuk Chun	—
Outside Director	Registered	Han-Gi Jung	—
Outside Director	Registered	Ho-Geun Lee	—
Outside Director	Registered	Sungsoo Koh	—
Outside Director	Registered	Sung-Yong Kim	—
Non-Standing Director	Registered	Kwang-Woo Choi	—
Executive Vice President	Non-Registered	Tae-Seung Sohn	17,127	December 30, 2016
Executive Vice President	Non-Registered	Won-Jai Jeong	20,582	December 3, 2016
Executive Vice President	Non-Registered	Woo Seok Chae	59,561	December 3, 2016
Executive Vice President	Non-Registered	Dong-Bin Lee	20,052	December 3, 2016
Executive Vice President	Non-Registered	Hong-Hee Kim	13,071	December 3, 2016
Executive Vice President	Non-Registered	Jung-Hoon Choi	17,330	December 3, 2016
Executive Vice President	Non-Registered	Jae-Hyun Cho	8,000	December 3, 2016
Executive Vice President	Non-Registered	Hong-Koo Kim	18,082	December 3, 2016
Executive Vice President	Non-Registered	Jae-Won Kim	15,871	December 3, 2016
Managing Director	Non-Registered	Ahn-Ho Jang	17,448	December 7, 2016
Managing Director	Non-Registered	Jeong-Jin Heo	9,483	December 3, 2017
Managing Director	Non-Registered	Seong-Il Park	12,314	December 3, 2017
Managing Director	Non-Registered	Hyeong-Min Park	10,894	December 7, 2016
Managing Director	Non-Registered	Yeong-Bae Kim	14,831	December 3, 2017
Managing Director	Non-Registered	Sun-Gyu Kim	19,094	December 3, 2017
Managing Director	Non-Registered	Hyun-Seok Shin	12,525	December 3, 2017
Managing Director	Non-Registered	Gyu-Song Cho	19,303	December 3, 2017
Managing Director	Non-Registered	Dong-Yeon Lee	12,115	December 3, 2017
Managing Director	Non-Registered	Woon-Haeng Jo	22,345	December 3, 2017
Managing Director	Non-Registered	Kwang-Seok Kwon	8,057	December 3, 2017

Note 1) End of Term

- Date of the 2017 annual general meeting of shareholders : Il-Hwa Hong, Hesuk Chun, Han-Gi Jung, Sungsoo Koh

- Date of the 2018 annual general meeting of shareholders : Ho-Geun Lee, Sung-Yong Kim, Kwang-Woo Choi

2.	Employee Status

As of September 30, 2016

(units: persons, millions of Won)

Staff

Average
Tenure
Years

Cumulative
Compensation

Average
Compensation
Per Person

Note

Regular

Contract

Others

Total

15,015

586

—

15,601

16.7

986,314

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

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

3.	Directors’ Compensation


As of September 30, 2016		(units: persons, millions of Won)

Items	Number of Persons		Total Compensation		Average Compensation Per Director		Note
Registered Directors		3		1,242		414
Outside Directors		4		135		34
Audit Committee Members / Auditors		5		436		87

*	Number of persons : includes the outside directors and audit committee members who resigned in 2016 (as of September 30, 2016, there were three registered directors, three outside directors and four Audit Committee members/auditors)

*	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 September of 2016

VIII.

Related Party Transactions

Extensions of Credit to Major Shareholders, Etc.

As of September 30, 2016

(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

330,000

January 4, 2012, etc.

January 22, 2018, etc.

Woori Investment Bank

Loans

10,000

March 10, 2016

March 3, 2017

CMA

70,000

September 24, 2015

June 30, 2017

Woori Card

Loans

250,000

April 1, 2013

March 3, 2017

Woori P&S

Loans

9,338

March 7, 2011

March 8, 2021

Loans

6,248

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: November 14, 2016	By:	/s/ Kwang Seok Kwon
	(Signature)

	Name: Kwang Seok Kwon
	Title: Managing Director