April 23, 2024
Finance
Banks to cut household loans’ growth to 6%
[THE INVESTOR] Local banks aim to cut the growth rate of household loans to around 6 percent next year, the head of South Korea’s state financial watchdog said on Dec. 29.
“The year 2017 is a very important time for our economy (in efforts) toward the soft landing of household debt (problem),” Zhin Woong-seob, governor of the Financial Supervisory Service, told reporters.
“The authorities are making special efforts for an improvement in the quality of household debt and a gradual adjustment to its size.”
Household loans extended by local banks are likely to row approximately 10 percent this year, a decline from 14 percent posted in 2015.
If the trend continues, the household debt issue is expected to enter the soft landing phase in 2018, he added.
(theinvestor@heraldcorp.com)
“The year 2017 is a very important time for our economy (in efforts) toward the soft landing of household debt (problem),” Zhin Woong-seob, governor of the Financial Supervisory Service, told reporters.
“The authorities are making special efforts for an improvement in the quality of household debt and a gradual adjustment to its size.”
Household loans extended by local banks are likely to row approximately 10 percent this year, a decline from 14 percent posted in 2015.
If the trend continues, the household debt issue is expected to enter the soft landing phase in 2018, he added.
(theinvestor@heraldcorp.com)
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