Hacker posts more S. Korean reactor info on Internet

S. Korean banks' foreign-currency loans dip in 2013

kh close


Published : 2014-03-02 14:27
Updated : 2014-03-02 14:27

Foreign-currency loans extended by South Korean banks declined last year from a year earlier, as a stronger won helped borrowers repay their outstanding debts, mostly yen-denominated ones, the financial watchdog said Sunday.

The amount of foreign currency-denominated loans extended by local banks reached $25.17 billion at the end of last year, down $4.77 billion from a year ago, according to the Financial Supervisory Service.

The decline was attributable to the Korean won's ascent to the Japanese currency, which prodded borrowers to repay yen-denominated loans or refinance them with won-denominated ones.

The won-yen rate soared 24.2 percent last year, according to the watchdog.

Dollar-denominated loans extended by local banks stood at $17.34 billion at the end of last year, up from $16.69 billion a year ago, while loans denominated in the Japanese yen dropped to $7.61 billion from $10.26 billion over the cited period, it said.

The foreign-currency loans have been on the decline since they hit $43.10 billion at the end of 2008, the FSS said.

From 2010, the watchdog began to curb foreign-currency lending unless there was actual demand overseas or the lending was to be used for smaller firms' facility investments.

The FSS said the delinquency ratio of banks' foreign-currency loans came in at 0.51 percent as of end-December, down from 0.83 percent a year ago, as lenders pushed to retrieve loans and opted to write off bad loans. (Yonhap)

Photo News

티아라 효민 멋진 뒤태에 남심 흔들

섹시백 선발대회 몸매 뽐내는 참가자들

카자흐 女배구선수 초특급 미모, 전세계 ‘깜짝’