Woori Bank (former Hanvit Bank) is now the second largest commercial bank in South Korea. The bank changed its name in 2002, and includes the former Commercial Bank of Korea, Hanil Bank, and Peace Bank. The Bank is a part of the Woori Financial Group. In May 2009, Woori Bank became the first Korean bank to issue UnionPay debit cards in China. Total assets: KRW 243 trillion or approx US$ 219 billion (as of December 31, 2012).
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No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters