Woori Bank leaps forward with improving credit ratings, rising foreigner ownership

Woori Bank is positioning corporate banking as a key driver of future growth, building on stronger capital fundamentals and growing confidence from global investors, industry officials said Monday. Fitch Ratings has recently upgraded Woori Bank's viability rating to "a" from "a-," citing improvements in capital adequacy and risk management. The bank's long-term issuer default rating was maintained at "A" with a stable outlook, while its short-term rating remained at "F1+." Fitch said Woori Bank's capital was less likely to come under pressure thanks to its consistent business model and improved risk profile, highlighting disciplined growth and contained asset-quality risks. The rating agency also raised the bank’s risk profile score to "a+" from "a," citing its prudent credit risk management and solid asset quality. The improved credit profile comes as Woori Bank CEO Jung Jin-wan emphasized strengthening the bank's capital base since taking office in December 2024. Woori Bank operates as a fully privatized commercial bank following the government's sale of its remaining stake in Woori F