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South Korean banks reduced the volume of non-performing loans last year through strict risk management, government data showed Thursday.
The ratio of loans classified as "substandard or below" came to 1.42 percent at the end of the year, down 0.38 percentage point from 2015, according to preliminary data compiled by the Financial Supervisory Service.
The amount of such bad loans decreased by 5.4 trillion won to 24.6 trillion won ($21.2 billion) that year.
Business loans accounted for 92.7 percent of the total, while those held by household and credit card receivables classified as bad loans came to 1.7 trillion won and 200 billion won, respectively.
By bank, the Korea Eximbank had the highest ratio of such loans at 4.52 percent as it provided funds to such troubled shipbuilders as Daewoo Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding. This was followed by Korea Development Bank with 3.56 percent and NH bank with 1.36 percent.
Banks disposed of 30.4 trillion won worth of bad loans last year, up 8.1 trillion won compared to a year earlier. (Yonhap)
