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Banks' loan delinquency rate lowest ever in June

All News 14:03 August 12, 2020

SEOUL, Aug. 12 (Yonhap) -- The delinquency rate for South Korean banks' won-denominated loans fell to the lowest level in June amid record low borrowing costs, data showed Wednesday.

The rate for bank loans more than 30 days overdue stood at 0.33 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).

The end-June reading marks the lowest since the financial watchdog began to compile related data in 2007.

Compared with a year ago, the rate was also down 0.09 percentage point, it said.

The delinquency rate for loans extended to companies fell 0.13 percentage point on-month to 0.39 percent in June, while that for loans to households fell 0.05 percentage point on-month to 0.25 percent, according to the data.

The corporate logos of major banks in South Korea (Yonhap)

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