Photo by Daniel Bernard via Unsplash.

South Korean banks’ bad loan rate improves in March

Delinquency rate of loans to large companies, SMEs, and households fell.

The delinquency rate of South Korean banks’ won-denominated (WD) loans stood at 0.43% in end-March, 0.08 percentage points (pp) lower from am omtn ago, according to data from the Financial Supervisory Service (FSS).

However, this is still 0.1% higher compared to March 2023.

The volume of resolved loans expanded to KRW2.8t in March, whilst newly delinquent loans grew KRW0.5t. 

ALSO READ: South Korea warns against loan scams using voice phishing

Delinquency rate of loans to large companies fell to 0.11% in March, from 0.18% in February. 

Delinquency rate of loans to small and medium enterprises (SMEs) also fell to 0.58%, from 0.7% in February.

The rate to household loans, meanwhile, fell to 0.37% in March from 0.42% in February. 

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