BUSINESS

Banks' loan delinquency rate edges up in July

By Yonhap
  • Published : Sept 1, 2017 - 10:29
  • Updated : Sept 1, 2017 - 10:29
The delinquency rate of South Korean banks' won-denominated loans edged up in July, due to a slight rise in people who could not pay off their debts, government data showed Friday.

The rate for bank loans more than 30 days overdue stood at 0.48 percent at the end of July, up 0.05 percentage point from a month earlier, according to the data by the Financial Supervisory Service.

Compared to a year ago, however, the rate was down 0.3 percentage point, it said. 


(Yonhap)

"In July, newly delinquent loans increased compared to the previous month while resolved loans of banks considerably decreased. This contributed to the growth of the delinquent rate for the month," the FSS said in a statement.

The delinquency rate of loans extended to large firms stood at 0.58 percent at the end of July, up 0.01 percentage point from a month earlier. That of loans to households also rose 0.01 percentage point on month to 0.26 percent at the end of July, according to the data. (Yonhap)