Edgar Filing: WOORI BANK

Summary of 2015 Business Report

For the Woori Bank Audit Reports for Fiscal Year 2015, please refer to the exhibits to the Form 6-K filing furnished to the U.S. Securities and Exchange Commission on March 9, 2016.

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 March 2016

Woori Bank

(Translation of Registrant’s name into English)

51, Sogong-ro, Jung-gu, Seoul, 100-792, 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): ¨

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

Summary of 2015 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 (as of December 31, 2015)	27

VI. SHAREHOLDER INFORMATION		28

1.	Share Distribution	28

2.	Stock Price and Stock Market Performance	29

VII. DIRECTORS AND EMPLOYEE INFORMATION		31

1.	Directors	31

2.	Employee Status	32

3.	Directors’ Compensation	32

VIII. RELATED PARTY TRANSACTIONS		32

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%)

b.	Affiliated Companies

(1)

Overview of Business Group

Name of business group: Woori Bank

(2)

Affiliated companies within the business group

As of December 31, 2015


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

First Tier 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 99.86%)

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 December 31, 2015				(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 676,00,000 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 30, 2015, entitled “Decision to Terminate Trust Agreement for Acquisition of Treasury Shares”]

3.	Total Number of Authorized Shares


As of December 31, 2015				(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 December 31, 2015				(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		2015		2014		2013
Par value per share (Won)			5,000		5,000		5,000
Net profit (Millions of Won)			1,059,157		1,213,980		(537,688	)
Earnings per share (Won)			1,301		1,621		(704	)
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

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

*	2015 figures include the interim dividend amount

II.

Business Overview

1.	Results of Operations


As of December 31, 2015				(unit: in 100 millions of Won)


Type	2015		2014		2013
Operating income		13,516		8,977		2,396
Non-operating income		3,140		1,871		1,753
Non-operating expenses		2,136		2,505		1,272
Ordinary profits		14,519		8,344		2,877
Income from continuing operations before income tax		14,519		8,344		2,877
Income tax expense from continuing operations		3,766		2,882		351
Income from discontinued operations		0		6,618		(9,660	)
Net income		10,754		12,080		(7,134	)

*	Based on K- IFRS consolidated financial statements

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

2.	Business Performance by Operation

a.	Deposit Services


As of December 31, 2015				(unit: in millions of Won)


Type		2015			2014			2013
Deposits received in local currency	Demand deposits		9,728,839			10,090,773			11,690,841
	Money trusts		1,304,268			1,281,539			1,236,844
	Fixed deposits		175,598,522			161,697,250			146,131,999
	Mutual funds		40,888			46,072			53,189
	CDs		2,435,087			740,090			3,297,551
	Other deposits received		922,749			762,896			690,908
Deposits received in foreign currencies			19,129,214			13,902,989			12,264,621
Present value discount			(17,739	)		(5,143	)		(42,309	)
Total			209,141,826			188,516,465			175,323,644

*	Based on K- IFRS consolidated financial statements

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

b.	Loan Services

(a)

Balances of Loans by Type


As of December 31, 2015				(unit: in millions of Won)


Type	2015		2014		2013
Loans in local currency		185,154,851		167,261,591		156,027,839
Loans in foreign currencies		17,910,253		16,993,065		14,955,260
Guarantee payments		44,242		52,619		54,645
Total		203,109,346		184,307,275		171,037,744

*	Based on K- IFRS consolidated financial statements

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

(b)

Loans by Purpose of Funds


As of December 31, 2015				(unit: in millions of Won)


Type		2015		2014		2013
Corporate loans	Working capital loans		50,646,880		48,919,570		50,451,576
	Facilities loans		32,858,237		28,475,804		25,435,589
Household loans			51,606,328		50,392,130		50,803,009
Public and other loans	Working capital loans		2,585,869		3,894,210		3,896,531
	Facilities loans		1,741,230		1,767,074		1,809,958
Mortgage loans			44,812,233		32,652,798		22,341,149
Inter-bank loans			834,301		1,080,971		1,227,289
Other loans			69,771		79,032		62,738
Total			185,154,851		167,261,591		156,027,839

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

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

(c)

Loan-to-deposit ratio


				(unit: in 100 millions of Won, %)


Type	2015		2014		2013
Loans in local currency		1,857,984		1,684,250		1,562,184
Deposits received in local currency (excluding CDs)		1,846,329		1,728,557		1,574,741
Ratio		98.83		97.13		99.20

*	Loan-to-deposit ratio 2013= Average monthly balance of loans in local currency / Average monthly balance of deposits received in local currency (excluding CDs).

*	Loan-to-deposit ratio 2014 & 2015 = (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 December 31, 2015				(unit: in millions of Won)


Type	2015		2014		2013
Confirmed guarantees		9,069,247		9,274,450		9,806,803
Unconfirmed guarantees		6,631,055		6,539,629		7,546,192
Commercial paper purchase commitments and others		1,615,141		2,213,840		5,447,858
Total		17,315,443		18,027,919		22,800,853

*	Based on K- IFRS consolidated financial statements

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

d.	Securities Investment


As of December 31, 2015				(unit: in millions of Won)


Type	2015		2014		2013
Securities at fair value through profit or loss		2,717,276		2,428,897		2,612,467
Available-for-sale financial assets		17,170,592		18,810,845		17,085,448
Held-to-maturity financial assets		13,621,640		13,044,448		12,038,820
Investments in associates		643,861		648,436		617,570
Total		34,153,369		34,932,626		32,354,305

*	Based on K- IFRS consolidated financial statements

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

e.	Trust Business


As of December 31, 2015				(unit: in millions of Won)


Type	2015				2014				2013
Type	Trust Funds		Trust Fees		Trust Funds		Trust Fees		Trust Funds		Trust Fees
Money trust		23,980,475		49,973		19,551,616		40,748		17,155,494		35,401
Property trust		9,354,003		1,323		10,355,167		1,066		9,853,775		790
Total		33,334,478		51,296		29,906,783		41,814		27,009,269		36,191

*	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	2015						2014						2013
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		169,919,620		1.70		64.76		157,994,039		2.22		66.89		146,162,283		2.51		65.13
	Certificates of deposit		1,879,832		1.92		0.72		1,983,619		2.71		0.84		2,316,413		2.80		1.03
	Borrowings in local currency		6,689,135		1.77		2.55		5,675,238		2.31		2.40		4,696,737		2.28		2.09
	Call money in local currency		1,370,253		1.62		0.52		984,378		2.28		0.42		1,207,035		2.56		0.54
	Others		18,944,493		2.95		7.22		15,925,666		3.69		6.74		15,394,073		4.20		6.86
	Subtotal		198,803,334		1.82		75.77		182,562,940		2.36		77.29		169,776,541		2.66		75.65
Foreign currency funds	Deposits received in foreign currencies		11,568,322		0.44		4.41		7,973,812		0.44		3.38		7,280,806		0.49		3.24
Foreign currency funds	Borrowings in foreign currencies		9,245,073		0.53		3.52		6,357,072		0.50		2.69		7,477,963		0.66		3.33


Classification	Funding Source	2015						2014						2013
Classification	Funding Source	Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion
	Call money in foreign currencies		1,199,484		0.53		0.46		1,242,371		0.54		0.53		449,726		0.77		0.20
	Debentures in foreign currencies		4,851,289		2.72		1.85		5,559,305		3.51		2.35		5,252,757		4.01		2.34
	Others		650,409		0.66		0.25		918,010		1.03		0.39		1,231,130		1.47		0.55
	Subtotal		27,514,577		0.88		10.49		22,050,569		1.26		9.34		21,692,382		1.46		9.67
Other	Total capital		18,501,137		—		7.05		18,225,902				7.72		18,391,558				8.20
	Provisions		640,666		—		0.24		594,945				0.25		654,036				0.29
	Others		16,907,843		—		6.44		12,779,094				5.41		13,908,781				6.20
	Subtotal		36,049,647		—		13.74		31,599,941				13.38		32,954,375				14.68
Total			262,367,557		1.47		100.00		236,213,449		1.94		100.00		224,423,298		2.15		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(Unit: in millions of Won, %)


Type	Funding Source	2015						2014						2013
Type	Funding Source	Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share
Cost	Money trusts		23,980,475		1.88		71.71		19,551,616		2.50		65.18		17,155,494		2.83		63.35
	Borrowings		—		—		—		—		—		—		—		—		—
	Subtotal		23,980,475		1.88		71.71		19,551,616		2.50		65.18		17,155,494		2.83		63.35
Non-cost	Property trusts		9,354,003				27.97		10,355,167		—		34.52		9,853,775		—		36.38
	Special reserves		37,989				0.11		37,195		—		0.12		37,167		—		0.14
	Other		70,265				0.21		50,659		—		0.17		35,487		—		0.13
	Subtotal		9,462,257				28.29		10,443,021		—		34.82		9,926,429		—		36.65
Total			33,442,732				100.00		29,994,637				100.00		27,081,923				100.00

b.	Fund Management Performance

[Bank Accounts]

(Unit: in millions of Won, %)


Type	Managed Item	2015								2014								2013
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		2,580,842			1.72		0.98			2,670,185			2.37		1.13			2,913,038			2.59		1.30
	Marketable securities in local currency		32,994,958			2.79		12.58			31,496,840			3.40		13.33			30,285,861			3.17		13.50
	Loans in local currency		176,631,188			3.42		67.32			161,296,709			4.18		68.28			149,019,789			4.62		66.40
	Guarantee payments		64,533			1.89		0.02			69,099			4.27		0.03			140,958			3.06		0.06
	Call loans in local currency		2,083,053			1.64		0.79			2,186,891			2.32		0.93			2,037,985			2.62		0.91
	Private placed ponds		280,702			5.98		0.11			470,988			4.12		0.20			595,478			8.00		0.26
	Credit card receivables		—			—		0.00			6			—		0.00			1,024,468			21.67		0.46
	Other		4,313,781			2.61		1.64			3,967,556			3.50		1.68			3,992,330			3.86		1.78
	Bad debt expense in local currency (-)		(2,482,955	)		—		(0.95	)		(3,073,009	)		—		(1.30	)		(3,202,673	)		—		(1.43	)
	Subtotal		216,466,103			3.31		82.50			199,085,264			4.06		84.28			186,807,234			4.50		83.24
Funds in foreign currencies	Deposits in foreign currencies		2,872,735			0.28		1.09			2,044,084			0.47		0.87			1,452,047			0.33		0.65
	Marketable securities in foreign currencies		1,375,146			1.51		0.52			1,073,932			0.85		0.45			972,378			2.85		0.43
	Loans in foreign currencies		14,206,736			1.65		5.41			12,364,024			1.71		5.23			12,393,208			2.13		5.52


Type	Managed Item	2015								2014								2013
Type	Managed Item	Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share
	Call loans in foreign currencies		2,040,819			0.59		0.78			1,347,232			0.94		0.57			1,688,820			0.76		0.75
	Bills bought		6,899,811			1.38		2.63			5,425,038			1.40		2.30			5,054,080			1.66		2.25
	Other		17,047			6.96		0.01			19,509			6.36		0.01			39,732			7.55		0.02
	Bad debt expense in foreign currencies (-)		(191,224	)		—		(0.07	)		(239,896	)		—		(0.10	)		(300,758	)		—		(0.13	)
	Subtotal		27,221,069			1.37		10.38			22,033,923			1.46		9.33			21,299,507			1.86		9.49
Other	Cash		1,116,715			—		0.43			1,076,521			—		0.46			993,256			—		0.44
	Property and equipment for business purposes		2,328,130			—		0.89			2,358,135			—		1.00			2,367,010			—		1.06
	Other		15,235,540			—		5.81			11,659,606			—		4.94			12,956,291			—		5.77
	Subtotal		18,680,385			—		7.12			15,094,262			—		6.39			16,316,557			—		7.27
Total			262,367,557			2.87		100.00			236,213,449			3.56		100.00			224,423,298			3.92		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(Unit: in millions of Won, %)


Type	Managed Item	2015								2014								2013
Type	Managed Item	Average Balance			Interest Rate			Share		Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share
Profit	Loans		19,482			4.05			0.06		24,201			3.61		0.08			43,964			6.77		0.16
	Securities		3,470,064			(0.57	)		10.38		3,189,405			3.34		10.63			2,813,363			2.11		10.39
	Other		21,231,787			2.00			63.49		17,055,060			3.61		56.86			14,799,716			3.17		54.64
	Reserves for bond ratings (-)		(68	)		—			0.00		(101	)		0.00		(0.00	)		(122	)		—		(0.00	)
	Present value discount (-)		(414	)		—			0.00		(663	)		0.00		(0.00	)		(959	)		—		(0.00	)
	Subtotal		24,720,851			1.64			73.92		20,267,903			3.57		67.57			17,655,962			3.01		65.19
Non-profit	Subtotal		8,721,881			—			26.08		9,726,735			—		32.43			9,425,961			—		34.81
Total			33,442,732			—			100.00		29,994,637			—		100.00			27,081,923			—		100.00

4.	Other Information Necessary for Making Investment Decisions

a.	Selected Ratios

BIS Capital Adequacy Ratios

(unit: in 100 millions of Won)


Type	2015		2014		2013
Equity capital (A)		210,514		208,577		261,388
Risk weighted assets (B)		1,540,709		1,463,230		2,009,778
Capital adequacy ratio (A/B)		13.66		14.25		13.01

*	Based on Basel III standards

*	Based on K-IFRS consolidated financial statements

*	2013 figures were revised to conform to the consolidated financial statements of Woori Finance Holdings (to reflect the accounting effect of the merger of Woori Finance Holdings with and into Woori Bank in 2014).

*	The 2015 figures change (equity capital to 209,581, risk weighted assets to 1,383,075, capital adequacy ratio to 15.15%) when excluding the five subsidiaries that were newly included after the merger with Woori Finance Holdings.

Liquidity Ratios

(unit: %)


Type		2015		2014		2013
Liquidity coverage ratio/local currency liquidity ratio (*)			106.67		123.10		120.75
Foreign currency liquidity ratio	Before application of weight of securitization		130.30		130.29		133.55
Foreign currency liquidity ratio	After application of weight of securitization		120.71		121.29		125.86
Ratio of business purpose premises and equipment			14.37		14.57		14.73

*	2015: Liquidity coverage ratio based on K-IFRS consolidated financial statements,

2013 and 2014 : Local currency liquidity ratio based on K-IFRS separate financial statements

b.	Asset Quality

(unit: in 100 millions of Won)


Type		2015			2014			2013
Total loans	Total		2,108,424			1,919,086			1,791,750
	Corporate		1,185,857			1,124,815			1,083,582
	Household		922,567			794,271			708,168
Sub-standard and below loans Sub-standard and below loan ratio	Total		31,009			40,216			53,592
	Total		1.47	%		2.10	%		2.99	%
	Corporate		27,701			35,482			49,054
	Corporate		2.34	%		3.15	%		4.53	%
	Household		3,308			4,734			4,538
	Household		0.36	%		0.60	%		0.64	%
Delinquency ratio	Based on total loans (after seasonal adjustment)		0.82	%		0.88	%		1.14	%
	Based on total loans (after seasonal adjustment)		(0.93	%)		(1.02	%)		(1.41	%)
	Based on corporate loans (after seasonal adjustment)		1.39	%		1.23	%		1.50	%
	Based on corporate loans (after seasonal adjustment)		(1.57	%)		(1.48	%)		(1.97	%)
	Based on household loans (after seasonal adjustment)		0.39	%		0.65	%		0.90	%
	Based on household loans (after seasonal adjustment)		(0.43	%)		(0.76	%)		(1.10	%)

*	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 the four shipbuilders are 1.24% for 2015, 1.62% for 2014, and 2.31% for 2013.

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: in millions of Won)


Classification	2015			2014			2013
ASSETS
Cash and cash equivalents		6,644,055			5,962,861			5,477,649
Financial assets at fair value through profit or loss		5,132,657			4,554,180			4,806,197
Available-for-sale financial assets		17,170,592			18,810,845			17,085,448
Held-to-maturity financial assets		13,621,640			13,044,448			12,038,820
Loans and receivables		244,842,062			223,370,135			211,912,373
Investments in joint ventures and associates		643,861			648,436			617,570
Investment properties		351,496			357,550			340,620
Premises and equipment		2,471,206			2,501,102			2,536,441
Intangible assets and goodwill		419,806			295,728			268,926
Assets held for sale		17,904			8,013			587
Current tax assets		6,782			4,845			143,101
Deferred tax assets		210,597			257,858			155,256
Derivative assets		183,128			196,061			131,410
Other assets		143,286			145,157			178,886
Disposal group held for sale		—			—			34,684,805
Disposal group held for distribution to owners		—			—			50,312,293
Total assets		291,859,072			270,157,219			340,690,382
LIABILITIES
Financial liabilities at fair value through profit or loss		3,460,561			2,675,354			2,507,248
Deposits due to customers		209,141,826			188,516,465			175,323,644
Borrowings		20,033,917			17,707,595			18,231,511
Debentures		21,898,859			24,795,904			21,677,674
Provisions		516,601			692,009			684,799
Net defined benefit liability		99,691			75,591			71,602
Current tax liabilities		108,943			298,762			9,980
Deferred tax liabilities		19,379			21,757			49,105
Derivative liabilities		—			—			1,785
Other financial liabilities		16,964,206			16,889,687			19,914,947
Other liabilities		305,174			390,670			411,278
Liabilities directly associated with disposal group held for sale		—			—			32,047,626
Liabilities directly associated with disposal group held for distribution to owners		—			—			46,882,414
Total liabilities		272,549,157			252,063,794			317,813,613
EQUITY
Owners’ equity:		19,188,472			17,983,501			17,847,633
Capital stock		3,381,392			3,381,392			4,030,077
Hybrid securities		3,334,002			2,538,823			498,407
Capital surplus		294,259			291,066			176,502
Other equity		(1,547,303	)		(2,393,138	)		(35,367	)
Retained earnings		13,726,122			14,165,358			13,112,690
Equity directly associated with disposal group held for sale		—			—			29,820
Equity directly associated with disposal group held for distribution to owners		—			—			35,504
Non-controlling interests		121,443			109,924			5,029,136
Total equity		19,309,915			18,093,425			22,876,769
Total liabilities and equity		291,859,072			270,157,219			340,690,382
Number of Consolidated Subsidiaries		71			78			173

*	2013 figures are from the FY 2013 consolidated financial statements of Woori Finance Holdings as there was no change in the merged entity on a consolidated basis.

Summary Consolidated Statement of Comprehensive Income


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


Classification	2015			2014			2013
OPERATING INCOME:		1,351,586			897,708			239,567
Net interest income		4,761,900			4,493,018			4,492,022
Net fees and commissions income		976,796			917,015			926,501
Dividend income		102,923			96,812			87,641
Gain on financial instruments at fair value through profit or loss		240,342			189,912			123,900
Gain on available-for-sale financial assets		(3,281	)		(68,924	)		(85,242	)
Impairment losses due to credit loss		(966,646	)		(1,096,940	)		(2,277,260	)
General and administrative expenses		(3,150,387	)		(2,958,919	)		(2,902,172	)
Other net operating income (expenses)		(610,061	)		(674,266	)		(125,823	)
Non-operating income		100,360			(63,313	)		48,100
Net income before income tax expense from continuing operations		1,451,946			834,395			287,667
Income tax expense from continuing operations		376,554			288,195			35,096
Net income from continuing operations		1,075,392			546,200			252,571
Net income from discontinued operations		—			661,769			(966,006	)
Net income		1,075,392			1,207,969			(713,435	)
Net income attributable to owners		1,059,157			1,213,980			(537,688	)
Profit from continuing operations		1,059,157			435,289			162,011
Profit from discontinued operations		—			778,691			(699,699	)
Net income attributable to the non-controlling interests		16,235			(6,011	)		(175,747	)
Profit from continuing operations		16,235			110,911			90,560
Profit from discontinued operations		—			(116,922	)		(266,307	)
Other comprehensive income (loss), net of tax		31,162			(107,597	)		(110,347	)
Items that will not be reclassified to profit or loss		(78,267	)		(51,650	)		9,217
Items that may be reclassified to profit or loss		109,429			(55,947	)		(119,564	)
Total comprehensive income		1,106,554			1,100,372			(823,782	)
Comprehensive income attributable to the owners		1,094,870			1,192,191			(623,695	)
Comprehensive income attributable to non-controlling interests		11,684			(91,819	)		(200,087	)
NET INCOME PER SHARE:
Continuing and discontinued operations
Basic earnings per common share		1,301			1,621			(704	)
Diluted earnings per common share		1,301			1,621			(704	)
Continuing operations
Basic earnings per common share		1,301			536			165
Diluted earnings per common share		1,301			536			165

*	2014 and 2013 figures are from the FY 2014 and FY 2013 consolidated financial statements of Woori Finance Holdings as there was no change in the merged entity on a consolidated basis.

2.	Condensed Financial Statements (Separate)

Summary Statement of Financial Position


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


Classification	2015		2014			2013
ASSETS
Cash and cash equivalents		5,440,326		4,668,916			4,694,201
Financial assets at fair value through profit or loss		3,569,625		3,097,309			3,353,936
Available-for-sale financial assets		15,869,654		17,791,224			16,499,175
Held-to-maturity financial assets		13,527,452		12,989,894			12,016,870
Loans and receivables		231,083,160		210,640,380			201,836,689
Investments in subsidiaries and associates		3,730,247		3,619,036			2,109,453
Investment properties		344,892		350,785			333,693
Premises and equipment		2,341,506		2,348,450			2,353,831
Intangible assets		187,520		43,186			69,994
Assets held for sale		17,904		6,837			587
Current tax assets		—		1,058			134,691
Deferred tax assets		172,368		193,453			—
Derivative assets		183,128		196,061			131,410
Other assets		109,126		124,712			151,636
Total assets		276,576,908		256,071,301			243,686,166
LIABILITIES
Financial liabilities at fair value through profit or loss		3,448,180		2,670,358			2,630,421
Deposits due to customers		201,353,128		181,288,444			169,870,194
Borrowings		18,760,947		16,139,529			16,711,669
Debentures		17,259,749		20,998,041			16,035,967
Provisions		467,887		667,286			641,459
Net defined benefit liability		45,678		43,381			36,577
Current tax liabilities		77,190		261,228			8,552
Deferred tax liabilities		—		—			35,108
Derivative liabilities		—		—			1,785
Other financial liabilities		16,111,469		15,857,059			19,162,494
Other liabilities		163,362		289,570			297,895
Total liabilities		257,687,590		238,214,896			225,432,121
EQUITY
Capital stock		3,381,392		3,381,392			2,983,452
Hybrid securities		3,334,002		2,538,823			2,380,797
Capital surplus		269,533		269,533			732,538
Other equity		106,016		(695,522	)		143,825
Retained earnings		11,798,375		12,362,179			12,013,433
Total equity		18,889,318		17,856,405			18,254,045
Total liabilities and equity		276,576,908		256,071,301			243,686,166

Summary Statement of Comprehensive Income


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


Classification	2015			2014			2013
OPERATING INCOME:		1,090,372			870,894			344,923
Net interest income		4,052,479			4,090,778			4,190,476
Net fees and commissions income		856,343			795,292			789,881
Dividend income		169,009			183,452			83,202
Gain on financial instruments at fair value through profit or loss		220,282			169,537			148,476
Gain on available-for-sale financial assets		(7,960	)		(92,379	)		(61,525	)
Impairment losses due to credit loss		(766,169	)		(928,492	)		(2,084,365	)
General and administrative expenses		(2,846,490	)		(2,655,157	)		(2,551,622	)
Other net non operating income (expenses)		(587,122	)		(692,137	)		(169,600	)
Non-operating income		144,635			(27,915	)		93,627
Net income before income tax expense		1,235,007			842,979			438,550
Income tax expense		300,418			196,681			73,693
Net income from continuing operations		934,589			646,298			364,857
Net income from discontinued operations		—			—			29,476
Net income		934,589			646,298			394,333
Other comprehensive income (loss), net of tax		(8,583	)		4,887			11,575
Items that will not be reclassified to profit or loss		(73,591	)		(58,468	)		6,671
Items that may be reclassified to profit or loss		65,008			63,355			4,904
Total comprehensive income		926,006			651,185			405,908
NET INCOME PER SHARE:
Continuing and discontinued operations
Basic earnings per common share		1,116			842			423
Diluted earnings per common share		1,116			842			405
Continuing operations
Basic earnings per common share		1,116			842			374
Diluted earnings per common share		1,116			842			358

IV.

Independent Auditor’s Opinion

1.	Independent Auditor’s Opinion


	2015	2014	2013
Auditor	Deloitte Anjin LLC	Deloitte Anjin LLC	Deloitte Anjin LLC
Auditor’s Opinion	(1)	Unqualified Opinion	Unqualified Opinion

(1)

In itsaudit 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 financial statements of the Bank as of December 31, 2014 and December 31, 2015 do not present fairly in all material respects, the financial position of Woori Bank as of December 31, 2014 and December 31,2015 in accordance with Korean IFRS.

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

a.	Audit Services

(units: in millions of Won, hours)


Term	Auditor	Description	Fee	Total Time
	Deloitte Anjin LLC	Closing audit	KRW 1,516 million		7,659 hours
		Interim audit (including internal accounting management system)			4,350 hours
2015		3Q review			3,785 hours
		1H review			3,836 hours
		1Q review			3,778 hours
	Deloitte Anjin LLC	Closing audit	KRW 1,280 million		7,681 hours
		Interim audit (including internal accounting management system)			4,160 hours
2014		3Q review			3,450 hours
		1H review			3,256 hours
		1Q review			3,143 hours
	Deloitte Anjin LLC	Closing audit	KRW 1,280 million		6,446 hours
		Interim audit (including internal accounting management system)			4,087 hours
2013		3Q review			3,397 hours
		1H review			3,066 hours
		1Q review			3,066 hours

b.	Non-Audit Services


Term	Date of Execution of Agreement		Description of Service	Service Term	Fees
2015		5.14.2014	Review of Japanese F/S related to Samurai bonds	5.2015 and 9.2015	KRW 74 million
		5.14.2014	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
2013		8.30.2013	GMTN update and issuance	9.2013	KRW 146 million
		8.30.2013	Samurai bond update	9.2013	KRW 28 million
		3.31.2013	Tax adjustment	Each quarter and end of term	KRW 110 million
		1.30.2013	Samurai bond-related comfort letter	1.2013	KRW 128 million

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 December 31, 2015


Name of Committee	Composition	Names of Members
Board of directors management committee	One standing director, Six outside directors	Kwang-Goo Lee (standing director) Il-Hwa Hong (outside director) Hesuk Chun (outside director) Han-Gi Jung (outside director) Sang-Keun Oh (outside director) Kang-Shik Choi (outside director) Sungsoo Koh (outside director)

Risk management committee	Three outside directors	Han-Gi Jung (outside director) Il-Hwa Hong (outside director) Sang-Keun Oh (outside director)

Compensation committee	Five outside directors	Il-Hwa Hong (outside director) Hesuk Chun (outside director) Sang-Keun Oh (outside director) Kang-Shik Choi (outside director) Sungsoo Koh (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) Sang-Keun Oh (outside director) Kang-Shik Choi (outside director) Sungsoo Koh (outside director)


Name of Committee	Composition	Names of Members
Committee for recommending outside director candidates	One standing director Six outside directors	Kwang-Goo Lee (standing director) Il-Hwa Hong (outside director) Hesuk Chun (outside director) Han-Gi Jung (outside director) Sang-Keun Oh (outside director) Kang-Shik Choi (outside director) Sungsoo Koh (outside director)

Committee for recommending officer candidates	Four outside directors One shareholder representative* Three outside experts**	Il-Hwa Hong (outside director) Han-Gi Jung (outside director) Sang-Keun Oh (outside director) Kang-Shik Choi (outside director)

Audit Committee	Three outside directors One standing director,	Kang-Shik Choi (outside director) Hesuk Chun (outside director) Sungsoo Koh (outside director) Soo-Kyung Chung (standing director)

*	The shareholder representative must be on the shareholders’ register as of the applicable record date, which is the record date of the shareholders’ meeting at which the appointment of directors is approved, and is appointed at the meeting of the Committee for Recommending Officer Candidates.

**	Outside experts are influential members of society, such as business professionals and financial specialists, appointed by the Board of Directors at least 30 days prior to the notice to convene the shareholders’ meeting to appoint the chief executive officer.

2.	Affiliated Companies (as of December 31, 2015)

LOGO

VI.

Shareholder Information

1.	Share Distribution

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

As of December 31, 2015

(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

51.04

345,142,556

51.06

Total

Common

345,142,556

51.04

345,142,556

51.06

Others

—

*	The total number of shares issued changed due to the retirement of shares on October 2, 2015.

b.	Changes in the largest shareholder

As of December 31, 2015

(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 December 31, 2015

(units: shares, %)

No.

Name

Shares

Notes

No. of shares

Percentage of shareholding

Korea Deposit Insurance Corporation

345,142,556

51.06

Employee Stock Ownership Association

28,978,254

4.29

d.	Minority Shareholders

As of December 31, 2015


Items	Number of shareholders		Ratio(%)			Number of shares		Ratio(%)
Minority Shareholders		57,398		99.97	%		257,034,822		38.01	%

2.	Stock Price and Stock Market Performance

a.	Domestic Stock Market

(units: Won, shares)


Period		July 2015		August 2015		September 2015		October 2015		November 2015		December 2015
Common Stock	High		9,740		9,580		9,520		9,990		10,150		9,530
	Low		8,920		8,840		8,920		9,300		9,450		8,820
	Average		9,283		9,268		9,228		9,714		9,768		9,134
Monthly Trade Volume	High		8,569,393		3,248,505		2,775,893		3,275,214		2,702,532		2,977,745
	Low		1,355,961		667,076		714,900		820,000		744,433		869,574
	Monthly Total		59,561,431		37,075,100		27,385,318		36,207,399		28,012,287		33,833,030

*	Source: KRX KOSPI Market

*	Share prices are based on closing prices.

b.	Foreign Stock Market (NYSE)

(units: US Dollars, ADRs)


Period		July 2015		August 2015		September 2015		October 2015		November 2015		December 2015
ADR	High		26.01		24.91		24.69		26.5		26.79		24.74
	Low		22.73		22.03		22.08		24.02		24.34		22.47
	Average		24.18		23.62		23.28		25.45		25.52		23.30
Won Conversion	High		29,092		29,003		29,193		29,979		30,463		28,641
	Low		26,419		26,260		26,222		28,593		28,458		26,458
	Average		27,645		27,851		27,581		29,219		29,398		27,308
Monthly Trade Volume	High		82,100		23,500		50,500		103,100		40,400		47,100
	Low		200		500		700		—		900		1,000
	Monthly Total		140,900		118,500		105,800		208,600		125,700		146,300

*	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 December 31, 2015


Position		Name	Common Stock Owned	Expiration of Term
President	Registered	Kwang-Goo Lee	21,251	December 30, 2016
Standing Member of Audit Committee	Registered	Soo-Kyung Chung	—	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	Sang-Keun Oh	—
Outside Director	Registered	Kang-Shik Choi	—
Outside Director	Registered	Sungsoo Koh	—
Executive Vice President	Non-Registered	Dong-Gun Lee	10,000	December 30, 2016
Executive Vice President	Non-Registered	Seung-Gyu Kim	18,943	March 31, 2016
Executive Vice President	Non-Registered	Ki-Myung Nam	8,049	December 30, 2016
Executive Vice President	Non-Registered	Tae-Seung Sohn	12,296	December 30, 2016
Executive Vice President	Non-Registered	Won-Jai Jeong	17,683	June 13, 2016
Executive Vice President	Non-Registered	Woo Seok Chae	37,967	September 3, 2016
Executive Vice President	Non-Registered	Dong-Bin Lee	17,153	March 19, 2016
Executive Vice President	Non-Registered	Hong-Hee Kim	—	December 3, 2016
Executive Vice President	Non-Registered	Jung-Hoon Choi	—	December 3, 2016
Executive Vice President	Non-Registered	Jae-Hyun Cho	8,000	December 3, 2016
Executive Vice President	Non-Registered	Hong-Koo Kim	15,183	September 3, 2016
Executive Vice President	Non-Registered	Jai-Won Kim	12,972	December 3, 2016
Managing Director	Non-Registered	Jeong-Jin Heo	9,000	December 3, 2017
Managing Director	Non-Registered	Seong-Il Park	7,500	December 3, 2017
Managing Director	Non-Registered	Hyeong-Min Park	10,894	December 7, 2017
Managing Director	Non-Registered	Hyun-Seok Shin	12,525	December 3, 2017

Note 1) End of Term

- Date of the 2016 annual general meeting of shareholders : Sang-Keun Oh, Kang-Shik Choi

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

Note 2) On November 3, 2015, non-standing director Joon-Ki Kim resigned for personal reasons

Note 3) Changes after December 31, 2015

- March 25, 2016 : Resignation of outside directors (Sang-Keun Oh, Kang-Shik Choi), appointment of new outside directors (Ho-Geun Lee, Sung-Yong Kim), appointment of new non-standing director (Kwang-Woo Choi), appointment of standing directors (Dong-Gun Lee, Ki-Myung Nam)

2.	Employee Status

As of December 31, 2015

(units: persons, millions of Won)

Staff

Average
Tenure
Years

Cumulative
Compensation

Average
Compensation
Per Person

Note

Regular

Contract

Others

Total

15,270

580

—

15,850

16.4

1,233,810

3.	Directors’ Compensation


As of December 31, 2015		(units: persons, millions of Won)

Items	Number of Persons		Total Compensation		Average Compensation Per Director		Note
Registered Directors		2		959		480
Outside Directors		4		167		42
Audit Committee Members		6		437		73

*	Number of persons : includes the outside directors and audit committee members that resigned in 2015 (as of December 31, 2015, there is one registered director, three outside directors and four members of the Audit Committee/auditors)

*	Total compensation : cumulative amount paid from January to December of 2015

VIII.

Related Party Transactions

Extensions of Credit to Major Shareholders, Etc.

As of December 31, 2015

(unit: millions of Won)

Name

Item

Current
Balance

Origination
Date

Maturity
Date

Korea Deposit Insurance Corporation

Loans

250,000

March 8,2012

August 29, 2016

Loans

500,000

August 30, 2011

August 29, 2016

Bonds

510,000

June 23, 2011, etc.

January 22, 2018, etc.

Bonds

30,000

July 8, 2014, etc.

July 8, 2017, etc.

Woori Investment Bank

Loans

25,000

July 3, 2014

June 30, 2016

CMA

50,000

September 24, 2015

June 30, 2016

Woori Card

Loans

250,000

April 1, 2013

March.3, 2016

Woori P&S

Loans

10,375

March 7, 2011

March 8, 2021

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: March 30, 2016	By:	/s/ Seung-Gyu Kim
	(Signature)

	Name: Seung-Gyu Kim
	Title: Executive Vice President