Household loans fall as banks maintain tight lending rules: data
Household loans by major banks fell for the first time in six months in September, as banks continue to strictly manage rapid borrowing, financial data showed Sunday. Outstanding household loans at five major lenders — KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH NongHyup Bank — stood at 781.39 trillion won ($580.49 billion) as of Thursday, down 727.6 billion won from the end of…
The Korea Times reports that household loans by major banks fell for the first time in six months in September, as banks maintain tight lending rules. Outstanding household loans at five major lenders totaled 781.39 trillion won ($580.49 billion) as of Thursday, a decrease of 727.6 billion won from the end of August. Despite the government relaxing the cap on household loans, banks have continued to restrict lending, according to industry officials.
The decline in mortgage loans, which stood at 620.5 trillion won as of Thursday, also highlights the banks' adherence to self-imposed loan restrictions.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
