In the intraday trading session on Monday, shares of Woori Bank surged by 5.13% amid positive market sentiment surrounding the bank's prospects for recovery from past reputational issues and its robust financial performance.
According to S&P Global Ratings, Woori Bank is expected to gradually bounce back from the reputational damage caused by internal control weaknesses and improperly extended loans. The rating agency cited the bank's strong franchise and customer base as key factors that should provide stability during the recovery process.
Notably, Woori Bank and its parent company, Woori Financial Group, have taken proactive measures to boost governance and oversight, including establishing an ethics management office and implementing stricter lending rules. These initiatives are seen as crucial steps in regaining investor confidence and addressing past missteps.
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