[Exclusive] Woori Bank sets up corporation to solicit corporate loans, first in the industry

[Financial News] Woori Bank is expanding productive finance by signing a contract with a corporation that will solicit not only household loans but also corporate loans. It is the first time in the banking sector that a corporation registered to solicit corporate and real estate loans has been established. The company plans to use the networks of retired finance professionals to match businesses with the most suitable loan products and maximize Woori Bank's interest income.
According to the financial industry on the 26th, OneBiz Partners, established with investment from WinPNS, an affiliate of Woori Bank, recently completed registration with the Korea Federation of Banks (KFB) as a corporate and real estate loan solicitation company. A loan solicitor refers to an individual or corporation that signs an exclusive contract with a bank, savings bank, insurer or other financial company to attract loan customers. Until now, all loan solicitors at banks had handled only household lending, such as mortgage loans and jeonse deposit loans. OneBiz Partners, which signed a loan solicitation outsourcing contract with Woori Bank, plans to hire retired bankers and other finance professionals to support the bank's expansion in corporate lending.
Jo Byeong-yeol, CEO of OneBiz Partners, said, "Our company is engaged in recruitment referrals for banks and other financial institutions, as well as corporate and real estate loan introductions." He added, "With the rich financial experience of retired bankers who have returned to work, we will provide the best products tailored to corporate needs and help customers choose the right financial products."
Woori Bank has been strengthening its corporate lending capabilities in line with the government's policy push to expand productive finance. Jin-owan Jung, CEO of Woori Bank, who came from a sales background, has repeatedly stressed the need to "rebuild Woori's reputation as a leader in corporate banking" since taking office. The bank has also revised its branch performance evaluation system to make its push for more corporate lending clear. In addition, it has opened Biz Prime Centers, specialized branches for corporate finance, across the country.
However, as of the end of last year, Woori Bank's corporate finance loan balance had fallen 3.79% from a year earlier. The decline reflected efforts to reduce lending in order to improve the common equity tier 1 ratio, which had weakened during Woori Financial Group's acquisitions of an insurer and a securities firm. Among the four major banks, Woori Bank was the only one to see its corporate lending balance decline. As of the first half of this year, Woori Financial Group's common equity tier 1 ratio improved to 13.74%, the highest among financial holding companies. With its stronger capital base, the group is expected to resume expanding corporate finance.
Woori Bank's corporate finance loan balance, which stood at 154.962 trillion won at the end of 2024, fell to 148.2474 trillion won at the end of last year. During the same period, loans to large companies rose 8.06% to 32.0665 trillion won from 29.6743 trillion won, but loans to small and medium-sized enterprises fell 6.62% to 116.1809 trillion won from 124.4218 trillion won. Woori Bank said it had adjusted its portfolio to reduce the share of real-estate-related leasing businesses and increase exposure to manufacturing.
A Woori Bank official said, "Establishing the industry's first corporation to solicit corporate loans is intended to expand productive finance." The official added, "We are also hiring retirees, so we expect it to create senior jobs as well." The official continued, "We have hired 32 loan solicitors so far, and only 30% of them are former Woori Bank employees, while the rest come from other banks, so we expect stronger sales capabilities. Corporate loan solicitors will work in coordination with Biz Prime Centers, Woori Bank's specialized corporate finance channel, to carry out loan solicitation activities for corporate clients."

[email protected] Park Moon-soo Reporter