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Banks' loan delinquency rate remains unchanged in Nov.

Economy 12:00 January 14, 2021

SEOUL, Jan. 14 (Yonhap) -- The delinquency rate for South Korean banks' won-denominated loans remained flat in November from the previous month, the financial regulator said Thursday.

The rate for bank loans more than 30 days overdue stood at 0.34 percent at the end of November, unchanged from the previous month, according to the Financial Supervisory Service (FSS).

Compared with a year earlier, the bank loan delinquency rate was down 0.14 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 outbreak.

The delinquency rate for corporate loans added 0.01 percentage point on-month to 0.43 percent in November, and the figure for household loans edged up 0.01 percentage point to 0.24 percent.

For household lending, the delinquency rate for home-backed loans stayed flat at 0.16 percent, and the rate for unsecured and other household loans rose 0.02 percentage point to 0.42 percent, according to the FSS.

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

sooyeon@yna.co.kr
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