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Loans extended to South Korea’s local firms grew at a slower pace in the fourth quarter of last year, mainly led by contractions in the manufacturing and construction sectors, central bank data showed Thursday.
Corporate lending by banks and nonbank financial institutions came to 943.3 trillion won ($771 billion) at the end of 2015, up 11.2 trillion won, or 1.2 percent, from three months earlier, according to preliminary data from the Bank of Korea.
Corporate lending by banks and nonbank financial institutions came to 943.3 trillion won ($771 billion) at the end of 2015, up 11.2 trillion won, or 1.2 percent, from three months earlier, according to preliminary data from the Bank of Korea.
The increase compares with a 2.2 percent on-quarter rise in the third quarter. From a year earlier, the figure marks a 6.9 percent increase.
In the three months ending Dec. 31, banks added 10.2 trillion won in their combined lending to firms, while nonbank institutions extended an additional 1.3 trillion won in corporate loans.
Loans extended to manufacturing and construction firms shrank 0.3 percent and 5 percent on-quarter, respectively, to 324.4 trillion won and 38.3 trillion won.
(khnews@heraldcorp.com)
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Articles by Korea Herald
