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Banks' loan delinquency rate edges up in October

All News 06:00 December 05, 2017

SEOUL, Dec. 5 (Yonhap) -- The delinquency rate of South Korean banks' won-denominated loans edged up in October due to a slight rise in the number of people who failed to repay their debts, government data showed Tuesday.

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

Compared to a year ago, however, the rate was down 0.33 percentage point, it said.

"In October, newly delinquent loans increased from the previous month while resolved loans considerably decreased," the FSS said in a statement. "This contributed to increasing the delinquent rate for the month."

The delinquency rate of loans extended to large firms stood at 0.42 percent at the end of October, up 0.02 percentage point from a month earlier. That of loans to households also rose 0.02 percentage point on month to 0.27 percent at the end of October, according to the data.

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