BRI NEWS S.Korean banks’ household debt delinquency ratio falls in June

BRI NEWS

S.Korean banks’ household debt delinquency ratio falls in June

Xinhua

11:09, August 27, 2019

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Photo: VCG

SEOUL, Aug. 26 (Xinhua) -- The delinquency ratio for household debt extended by banks in South Korea fell in June as banks resolved delinquent loans ahead of the end of the first half, financial watchdog data showed Monday.

Banks’ household debt, overdue at least one month, came in at 0.27 percent of the total as of end-June, down 0.05 percentage points from a month earlier, according to the Financial Supervisory Service (FSS).

The bad debt ratio declined ahead of the end of the first half, when banks tended to resolve massive bad loans to clean accounting books.

From a year earlier, the delinquency ratio added 0.02 percentage points as of end-June.

The delinquency ratio for mortgage loan to households shed 0.02 percentage points over the month to 0.20 percent at the end of last month, while the ratio for credit loan declined 0.11 percentage points to 0.44 percent.

The bad debt ratio for banks’ corporate loan shrank 0.13 percentage points to 0.53 percent in the cited period. The figure for big corporations inched down 0.01 percentage point to 0.66 percent, and the number for small companies retreated 0.16 percentage points to 0.49 percent.

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