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Insurers' lending grows 1.4 pct in Q4

Finance 06:00 April 06, 2022

SEOUL, April 6 (Yonhap) -- Loans extended by insurance companies in South Korea grew 1.4 percent in the fourth quarter of 2021 on a rise in corporate lending, data showed Wednesday.

Insurers' outstanding loans amounted to 266.1 trillion won (US$219.4 billion) at the end of December, up from the previous quarter's 262.4 trillion won, according to the data from the Financial Supervisory Service.

Loans extended to companies increased 2.9 trillion won on-quarter to 137.4 trillion won. Household loans also edged up 800 billion won over the cited period to 128.5 trillion won.

The loan delinquency rate, which measures the proportion of loans with interest and principal payments at least one month past due, had stood at 0.13 percent as of end-December, down from the previous quarter's 0.14 percent.

The ratio of nonperforming loans came to 0.13 percent, up 0.01 percentage point from three months earlier, the data showed.


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