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Banks' loan delinquency rate edges up in February

Corporate logos of South Korea's leading banks (Yonhap)
Corporate logos of South Korea's leading banks (Yonhap)
The delinquency rate for South Korean banks' won-denominated loans inched up in February from the previous month, the financial regulator said Thursday.

The rate for bank loans more than 30 days overdue stood at 0.33 percent at the end of February, up 0.02 percentage point from the previous month, according to the Financial Supervisory Service (FSS).

Compared with a year earlier, the bank loan delinquency rate was up 0.1 percentage point.

Banks' loan delinquency rate remains stable mainly because the government has encouraged local lenders to extend loan maturity or delay interest payments to help households and firms struggling to cope with the economic fallout of the COVID-19 pandemic.

The delinquency rate for corporate loans rose 0.03 percentage point on-month to 0.43 percent in February, and the figure for household loans inched up 0.01 percentage point to 0.22 percent. (Yonhap)

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