Korean bank loans edged up a measly 0.7% m-m in September to KRW1,168tn

Corporate loans also grew.

Korean bank loans in September rose 0.7% m-m, up 5.8% YTD and +6.3% y-y, to KRW1,168tn.

According to a research note from Nomura, corporate loans grew 0.5% m-m, up 6.9% YTD and 6.4% y-y, as SME loan growth, up 0.6% m-m and 6.0% YTD, +6.3% y-y, continued to drive the corporate loan segment.

Meanwhile, large corporate loans maintained their modest growth rate of 0.3% m-m, up 9.6% YTD and 6.5% y-y.

Here's more from Nomura:

Household loans continued to show strong growth, increasing 0.9% m-m (+4.3% YTD, +6.2% y-y), mainly driven by mortgage loan growth (+1.2% m-m, +6.5% YTD, +8.7% y-y) as property transactions accelerated in September (86,186 units in September vs. 75,973 units in August).

Bank funding rose 0.3% m-m (+2.9% YTD, +4.1% y-y).

Core deposits rose 1.0% (+6.3% YTD, +11.4% y-y).

Time deposits declined 0.1% m-m (+3.0% YTD, +1.5% y-y).