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Credit loans top 100 tln won in May

All News 13:53 June 03, 2018

SEOUL, June 3 (Yonhap) -- Credit loans extended to individuals by South Korea's five major banks surpassed 100 trillion won (US$93.4 billion) last month, data showed Sunday.

Outstanding credit loans rolled out by the lenders -- KB Kookmin Bank, Shinhan Bank, Woori Bank, KEB Hana Bank and NH Bank -- stood at 100.82 trillion in May, according to the data from the five banks.

Credit loans rose by 1.16 trillion won and 1.09 trillion in April and May, respectively.

The news follows moves by financial regulators to tighten mortgage rules in order to cool down the overheated housing market and curb growing household debt.

South Korea's outstanding household debt jumped to a record 1,468 trillion won in the January-March period, up 8 percent from a year earlier, according to preliminary data from the Bank of Korea.

This file photo shows a local bank's sign for its personal mortgage loans. (Yonhap)


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