Within one and a half year of restructuring the shareholder structure and under the management of Woori Bank, WB Finance has shown substantially continued development and prosperity, which indicated the organization’s high aspiration in flourishing in the Cambodia’s financial sector.
As the new Chairman of the Board of Directors of WB Finance, I am absolutely delighted to see the rapid growth of the institution. I would like to express my deepest gratitude and appreciation to Mr. Chris Bryan, the former Chairman of the Board of Directors, for his exceptionally effective leadership and his positive reinforcement under the administration of the new shareholders of WB Bank of South Korea.
Because of the effective management, as far as the loan performance is concerned, the institution achieved a growth rate of approximately 54% in 2019 with a profit of more than 13 million USD, while the non-performing loans dropped from 0.69% in 2018 to only 0.30% in 2019 which shows good credit quality management. Regarding the total deposit, it has increased to 64.7 USD. Whilst the growth rate is fairly low, the institution has been making every effort to build more trust in an attempt to increase the amount of deposit from the general public through the development of the products’ and services’ terms and conditions, modernization of the mobile banking and the core banking system, in addition to the technology.
This would not have been possible without the great dedication in working of staff at all levels, particularly clients and partners. I would like to express my sincere thanks to our customers, our staffs, managements, our partners, in particular the relevant authorities at all levels, which have been putting great efforts in supporting the operations of WB up to this stage. As the Chairman of the Board of Directors, I am highly dedicated to leading and supporting all WB’s operations efficiently and sustainably, with the purpose of transforming the organization into a leading financial institution in Cambodia in the near future.
HYUN SEONG YOON
Chairman of Board of Directors