In Terms of Net Profit
NH Financial Group’s net profit exceeded that of Woori Financial Group, one of the domestic top four, last year.
NH Financial Group announced on Feb. 16 that its net profit was 1,735.9 billion won last year, down 2.5 percent from a year ago. The profit increases to 2,069.3 billion won when its farmer support fund payment to the National Agricultural Cooperative Federation is added to the calculation.
In 2019, NH Financial Group’s net profit was 2,069.3 billion won before the deduction of the fund and 1,779.6 billion won after the deduction and Woori Financial Group’s net profit was 1,904.1 billion won. Last year, Woori Financial Group’s net profit dropped 31 percent to 1,307.3 billion won.
“Despite COVID-19, our total assets increased 11.8 percent to 646 trillion won in 2020,” NH Financial Group explained, adding that its profit base is expected to further expand this year.