Yoon replaces 6 ministers ahead of his 3rd year, general election
US deploys fighter jets in S. Korea for air exercise in Singapore
S. Korea's economy grows 0.6% in Q3, unchanged from earlier estimate
S. Korea successfully tests solid-fuel space rocket
Another search targets opposition leader in corruption probe
Generational shift looms in SK leadership
[KH Explains] Why tighter US subsidy rules could boost Chinese firms
Majority of Korean office workers sleep deprived
US rejects NK's 'double standard' claim on Seoul's satellite launch
Province office raided in probe into wife of opposition leader
Bank loan default rate hits 12-month low in Dec.By 양승진
Published : Jan. 24, 2011 - 10:32
South Korean banks saw their loan default rates fall to the lowest level in 12 months in December following their enhanced efforts to clear soured loans ahead of year-end book closings, the financial regulator said Monday.
Loans overdue by one day or more reached 0.91 percent, or 9 trillion won ($8 billion), of the total lending held by 18 local banks as of the end of December, sharply down from 1.24 percent, 12.4 trillion won, a month earlier, the Financial Supervisory Service (FSS) said in a statement.
The December reading marks the lowest level since 0.74 percent in December last year, the FSS added.
The sharp drop in overdue loans came as banks beefed up clearing of delinquent loans before they closed their yearly books at the end of 2010, the FSS said.
Banks saw 2.6 trillion won in loans go sour last month, the same amount shown in the previous month, while their disposal of delinquent loans doubled to 6 trillion won on-month, according to the FSS.
The default rate on corporate loans reached 1.32 percent in December, down from 1.91 percent a month earlier, with the corresponding ratio on household loans also declining to 0.52 percent from 0.59 percent, the FSS said. (Yonhap News)
Korea unveils plan to tackle ailing mental health
[KH Explains] China ups OLED ante to take over Korean shares
6 outgoing ministers ‘strong candidates’ for general elections: ruling party