Woori Bank, led by CEO Kwon Kwang-seok, announced on Nov. 11 that Woori Saudara Bank was selected as the "best bank for 25 consecutive years" in the 2020 bank evaluation by Indonesia's most prestigious financial magazine Infobank Magazine.
Infobank Magazine, founded in 1979, is the most powerful media in Indonesia's financial sector that evaluates all banks in Indonesia every year and selects and announces outstanding banks by sector.
Woori Saudara Bank was highly praised for its excellent governance and risk management, which are based on stable profitability and soundness.
Woori Saudara Bank is the only bank among Indonesian commercial banks that has been selected as the best bank for 25 consecutive years.
In addition, Woori Saudara Bank was also selected as the top GRC in the banking sector in October by Top Business Magazine, a leading Indonesian business magazine, in an evaluation of 840 companies in Indonesia in terms of governance, risk and compliance.
Choi Jeong-hoon, head of Woori Saudara Bank, said, "Our bank was selected as the best bank in the midst of difficult economic conditions amid the COVID-19. We will continue to provide better financial services with trust to our customers."
Woori Saudara Bank is a newly created bank through the merger between Woori Bank's Indonesian subsidiary and Indonesian bank Saudara Bank in late 2014 and has the largest local network (155) among Korean banks.
