Woori Bank, DLF Products Lost 98.1%

2019-09-25 20:11:12

Woori Bank's overseas investment-linked derivatives (DLS and DLF) have lost all their investment capital.

According to the financial sector on the 25th, the yield of Woori Bank's 'KB German interest-linked private equity investment trust No. 7 (DLS-derived)' product, which is due on the 26th, was confirmed as negative (-) 98.1%.

This means that if you invested 100 million won, you saved only 1.9 million won.

Woori Bank's DLF, which had expired last 19 days, was -60.1%.

The product is reported to have sold 48 cases, about KRW 8.3 billion.

The Financial Supervisory Service surveyed that Woori Bank sold a total of KRW 125.5 billion in 10-year Treasury bonds linked to German government bonds, which would be lost if interest rates fell below -0.6% in relation to 10-year German bond yields.

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The day before the final base rate was finalized, the German Treasury yield fell below that level, leaving only 1.4% of coupon rates and prepayment adjustments (approximately 0.5%) paid to investors regardless of losses.

With the DLF maturity in question coming on the horizon, Woori Bank's sloppy response is pouring out.The KBS Exploration Report's persistent K team is heading to Woori Bank, which is `` raising customer property ''

"I was consistently responding in stages and non-response even though I called dozens of times to listen to Woori Bank's position from September 5th," he said.

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According to Chosun Biz, Woori Bank received a rating of 'Lack' on Mystery Shopping (Advance Evaluation) last year.

Kim Byung-wook (Deputy Democratic Party), a member of the National Assembly's political affairs committee, argued that Woori Bank received 62.4 points in the 2018 Mystery Shopping on Derivative Securities Sales.

The media stressed that they did not comply with the protection measures for the aged investors.

Said it will cooperate actively to protect customers.

Son, however, did not attend the meeting where the director of the financial supervisor Yoon Suk-heon met with commercial bankers on the loss of high-risk derivatives.

It's left to see how far you can trust the head of the company to do your best because of Woori Bank's continued behavior of ignoring media coverage and customers who have lost their “bloody” money.