April 25, 2024

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[THE INVESTOR] Loans extended by Korea’s five major banks rose slightly in October from a month earlier, data showed Nov. 2.

The outstanding balance of credit loans by the five retail banks, including KB Kookmin Bank and Shinhan Bank, stood at 95.62 trillion won (US$85.80 billion) at the end of October, up 1.77 trillion won from the end of September, according to the data from the financial industry.

The increase is the highest since 2016, according to the data.

Meanwhile, the outstanding balance of mortgages extended by the five retail banks came to 373.23 trillion won at the end of October, up 1.64 trillion won from the end of September, the data showed.

By Alex Lee and newswires (alexlee@heraldcorp.com)