RETAIL BANKING | Staff Reporter, Korea

Korean banks' loan delinquency rate inches up to 0.48% in February

Newly delinquent loans outnumbered resolved ones.

The delinquency rate of Korean domestic bank’s won-denominated loans rose 0.06% MoM to 0.048% in February as the number of newly delinquent loans surpassed that of resolved loans, according to a press release from the Financial Supervisory Service.

The delinquency rate measures the percentage of loans with interest payment past due by at least one month.

However, on a yearly basis, the delinquency rate dipped by 0.09% YoY from 0.57%.

The delinquent rate of loans to large companies stood at 0.45% in February, up 0.01% from 0.44% a month earlier. Furthermore, the rate of loans to SMEs was seen at 0.69% up from 0.59% in January.

For household loans, the delinquency rate was valued at 0.28% from 0.25% the previous month. For mortgage loans, delinquency rate stood at 0.19%. 

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