Woori Finance 2008 net tumbles 76.6 pct

SEOUL, Feb. 12 (Yonhap) -- Woori Finance Holdings Co., South Korea's top
financial services company, said Thursday its 2008 earnings tumbled 76.6 percent
from a year earlier due to higher loan-loss reserves.
Net profit came to 454.5 billion won (US$325.8 million) last year, compared with
1.94 trillion won the previous year, the group said in a regulatory filing.
Revenue plunged 68 percent on-year to 666.3 billion won and operating profit
nosedived 76.5 percent to 455.8 billion won, the group added.
Woori Bank, the group's flagship unit, logged a net profit of 234 billion won
last year, down 86.2 percent from a year earlier. The group said its banking unit
will pay a dividend of 35 won per share.
sooyeon@yna.co.kr
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