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Credit card delinquencies rise 4.7% in Q1

Delinquencies at South Korea's five credit card companies rose 4.7 percent on-quarter in the first three months of this year as low interest rates pushed them to make more card loans, industry data showed Monday.

Overall card loans overdue by more than 30 days rose to 955.2 billion won ($842.1 million) at the end of March, up 42.5 billion won from the end of last year. 


The five credit card companies are Shinhan, KB, Woori, Hana and Samsung.

Excluding Shinhan, the other four companies saw their delinquencies rise during the first quarter.

The delinquency numbers at Woori Credit Card rose 0.29 percentage point to 1.14 percent at the end of March.

Hana Card's ratio rose 0.13 percentage point to 1.67 percent, according to the data. 

Card loans at the five firms gained 11.9 percent on-year to 26.4 trillion won at the end of last year, the data showed. (Yonhap)

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