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The delinquency rate on loans extended by South Korean banks inched up in February as more loans turned sour than in the previous month, the financial watchdog said Thursday.
The average delinquency rate of bank loans came to 1.05 percent at the end of February, up 0.07 percentage point from the previous month, according to the Financial Supervisory Service.
It marks a 0.21 percentage point drop from the same month a year ago. The rate is measured based on principals of loans overdue for more than one day.
The combined value of soured debts newly added reached 2.2 trillion won ($2 billion), exceeding the decrease in bad loans, which came in at 1.3 trillion won, the FSS added.
The delinquency rates on corporate and household loans increased by 0.07 percentage point and 0.06 percentage point, respectively, last month, standing at 1.26 percent and 0.78 percent. (Yonhap)
The average delinquency rate of bank loans came to 1.05 percent at the end of February, up 0.07 percentage point from the previous month, according to the Financial Supervisory Service.
It marks a 0.21 percentage point drop from the same month a year ago. The rate is measured based on principals of loans overdue for more than one day.
The combined value of soured debts newly added reached 2.2 trillion won ($2 billion), exceeding the decrease in bad loans, which came in at 1.3 trillion won, the FSS added.
The delinquency rates on corporate and household loans increased by 0.07 percentage point and 0.06 percentage point, respectively, last month, standing at 1.26 percent and 0.78 percent. (Yonhap)
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Articles by Korea Herald
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