Woori Bank, the first South Korean commercial bank to enter Bangladesh, is accelerating its localization efforts while expanding its local network and customer base beyond corporate finance.
On September 30, Woori Bank held a ceremony at the Sheraton Hotel in Dhaka to celebrate the 30th anniversary of its Dhaka branch. The event was attended by Woori Bank President Jeong Jin-wan, Bangladesh's Finance Minister, the Deputy Governor of the Central Bank, and representatives from local subsidiaries of South Korean companies.
Opened in 1996, Woori Bank's Dhaka branch is the only branch among banks from South Korea, China, and Japan that continues to operate locally. Currently, it employs 147 staff across nine branches and offices.
The bank has also seen significant growth in its performance. Over the past three years, the Dhaka branch's operating revenue has increased by an average of 24%, with net operating revenue reaching 23 billion won in the first half of this year. The proportion of local customers has risen to approximately 73%. Additionally, it has maintained the highest credit rating of 'AAA' as per the Central Bank of Bangladesh's standards, enhancing its credibility in the local financial market.
Woori Bank is also strengthening its digital competitiveness by expanding services tailored to the local financial environment, including the launch of mobile-only deposit products. Since 2023, the bank has committed to supporting initiatives for anemia prevention and treatment as part of its corporate social responsibility activities.
During this visit, President Jeong met with Bangladesh's Central Bank Governor, Mustafa Kamal, to discuss ways to enhance financial cooperation following the principled agreement on the Comprehensive Economic Partnership Agreement (CEPA) between South Korea and Bangladesh. He also expressed Woori Bank's intention to strengthen its role in the region.
* This article has been translated by AI.
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