“The most reliable financial institution for all Cambodians”
As Woori Bank enters a new chapter in the Kingdom’s banking landscape, CEO-nominee Kim Hongju is confident that the institution will remain committed to providing quality financial services through its multiple distribution channels, without deviating from its core values of promoting the government’s national agenda on funding inclusion and reaching out to people during tough times.
How has Woori Bank developed in the Kingdom over the years?
The story of Woori Bank in Cambodia began in 2014 when Woori Bank in South Korea acquired Malis Microfinance and renamed it Woori Finance Cambodia.
After seeing undeniable growth in the financial sector, Woori Bank Korea knew that the next step in our global expansion would be to further expand our presence in Cambodia.
In order to carry out this strategy, it was clear that an acquisition of an established and trusted institution such as VisionFund was needed.
In 2018, Woori Bank of Korea (WB) acquired 100% of the institution and renamed it WB Finance Co Ltd. In 2019, a merger between the two sister companies – WB Finance and Woori Finance Cambodia – took place in Cambodia and formed the new WB Finance Co Ltd.
Following a successful merger, Woori Bank Korea continued to provide strong support by injecting an additional $ 100 million to accelerate our growth.
This infusion of capital has helped us grow strategically as we seek to offer more products and services, nurture the best available talent, and improve the experience for our clients.
All these steps have led us to this exciting new chapter for the Cambodian bank that is the launch of Woori Bank Cambodia.
This operational launch brings us one step closer to our mission of supporting all Cambodians by providing better and more innovative financial services.
How did the bank weather the Covid-19 pandemic as businesses and SMEs faced a credit crunch?
To support our clients as well as our business in the midst of this unpredictable economy, and with the support of the National Bank of Cambodia, our company has restructured loans and credit payments for clients in need.
Through this implementation, he has helped our clients to have some leeway to recover and rebuild their businesses.
Woori Bank is here to help Cambodians overcome all obstacles with Cambodians – and always be there for Cambodians.
True to this philosophy, we believe that we will always find the best and most suitable solutions for our customers.
It is now a commercial bank. How is the atmosphere with your shareholder and your staff?
The enthusiasm of our employees and shareholders towards this major transformation into a commercial bank is undeniable.
We all share the same common mission of providing the most comprehensive and convenient banking experiences to all of our current and future customers.
This upgrade to our business license will allow us to offer even more products and services while making banking easier and faster than ever.
The excitement can be seen in all of the changes and additions highlighted by the launch of our premium branches, the addition of exciting new corporate banking products and services, upgrades to our mobile banking apps and much more. others.
With your new identity, how will you position the bank in a competitive sector, and what are your priorities for 2022?
At Woori Bank Cambodia, we are focused on providing seamless banking experiences for all clients. By being customer-centric at the very heart of our strategy, Woori Bank focuses on improving every step of the consumer’s banking journey.
First, consumers can expect an upgrade to 138 branches nationwide. Woori Bank has deployed premium branches while modernizing existing branches to better serve our customers.
In addition, more than 100 ATMs will be deployed throughout the year to welcome our customers.
Business banking products and services will be presented to clients seeking financial support for their growing businesses.
International trade products will also be deployed to meet the needs of transfers abroad. Credit and debit cards will also be introduced to support this digital economy.
These are just a few of the many new features and innovations that Woori Bank will introduce as we seek to achieve our overall goal of becoming the fastest, most convenient and innovative bank.
The bank upgrade came as the Covid-19 threat persisted and the market tried to stabilize. Are you confident in this movement?
Woori Bank remains very optimistic about the country’s future and is committed to supporting our clients.
Over the past two years, Woori Bank has prepared relentlessly for this exact moment, and I can say with confidence that we are ready to meet any obstacles that may arise.
We seek to leverage our exceptional talents, strong support from our shareholder, and a meticulously thought-out strategy to meet any challenges while capitalizing on opportunities.
Is there something you would like to share with our readers?
I would like to express my deepest gratitude and sincere thanks to regulators, shareholders, the board of directors, employees and customers.
To the regulators – thank you for your enthusiastic support and valuable advice.
To our shareholder and our board of directors, thank you for your confidence in our strategy and your unwavering support.
To customers – thank you for placing your trust in Woori Bank and your choice of financial services.
I look forward to welcoming you all to the new chapter of Cambodian banking – welcome to Woori Bank Cambodia!