How did WF's Q3 earnings compare to previous quarters?

**Woori Financial Group Inc (WF) showed strong profitability in Q3 2024**, with a notable increase in net income and positive revenue growth, despite facing market challenges: 1. **Net Income and Revenue Growth**: - WF reported a 9.1% year-on-year increase in cumulative net income for Q3 2024, reaching KRW2,659.1 billion. - The net operating revenue increased by 6.6% year-on-year, with Q3 net operating revenue at KRW2,712.2 billion. 2. **Effective Cost Management**: The cost-to-income ratio remained below 40% for the second consecutive quarter, indicating effective cost management. 3. **Challenges Faced**: - Despite the positive performance, WF faced challenges such as market interest rate changes, credit cost increases due to high interest rates and real estate market restructuring, and uncertainties from geopolitical risks. - There was a slight decrease in net income from the previous quarter, with Q3 2024 net income at KRW903.6 billion. - The net interest margin (NIM) declined by seven basis points in Q3, reflecting margin compression due to market interest rate changes. In conclusion, Woori Financial Group Inc (WF) demonstrated robust financial performance in Q3 2024, achieving strong net income growth and revenue increases despite facing market challenges. The company's effective cost management and strategic plans to navigate interest rate pressures were key factors in its positive financial outcomes.