April 24, 2024
Economy
Banks’ loan delinquency rate slides in March
[THE INVESTOR] The loan delinquency rate of Korean banks edged down in March from a month earlier, government data showed on May 1.
The delinquency rate for their won-denominated loans stood at 0.51 percent at the end of March, down 0.06 percentage point from a month earlier, according to the data by the Financial Supervisory Service.
The decline came as 1.2 trillion won (US$1 billion) worth of loans turned sour in March, down 100 billion won from February, according to the data. It also showed that 2 trillion won worth of debt was written off.
The outstanding amount of delinquent loans reached 7.3 trillion won at end-March, down 800 billion won from the previous month.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The delinquency rate for their won-denominated loans stood at 0.51 percent at the end of March, down 0.06 percentage point from a month earlier, according to the data by the Financial Supervisory Service.
The decline came as 1.2 trillion won (US$1 billion) worth of loans turned sour in March, down 100 billion won from February, according to the data. It also showed that 2 trillion won worth of debt was written off.
The outstanding amount of delinquent loans reached 7.3 trillion won at end-March, down 800 billion won from the previous month.
By Alex Lee and newswires (alexlee@heraldcorp.com)
