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Banks' loan delinquency rate edges down in June

Economy 12:00 August 26, 2019

SEOUL, Aug. 26 (Yonhap) -- The delinquency rate for South Korean banks' won-denominated loans edged down in June due to a slight decline in the number of firms and households that failed to repay their debts, data showed Monday.

The rate for bank loans more than 30 days overdue stood at 0.41 percent at the end of June, down 0.09 percentage point from a month earlier, according to the data from the Financial Supervisory Service (FSS).

Compared with a year ago, the rate was down 0.1 percentage point, the FSS said.

The delinquency rate for loans extended to firms fell 0.13 percentage point on-month to 0.53 percent in June, and that for loans to households also declined 0.05 percentage point to 0.27 percent in June, according to the data.

The FSS said it will keep close tabs on loan delinquency trends to prevent rising market interest rates from leading to more overdue loans.

Banks' loan delinquency rate edges down in June - 1


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