The delinquency rate of Korean banks’ won-denominated loans edged up in October, government data showed on Dec. 5.
The rate for bank loans more than 30 days overdue stood at 0.48 percent at the end of October, up 0.05 percentage point from a month earlier, according to the data by the Financial Supervisory Service.
Compared to a year ago, however, the rate was down 0.33 percentage point, it said.
“In October, newly delinquent loans increased from the previous month while resolved loans considerably decreased,” the FSS said in a statement. “This contributed to increasing the delinquent rate for the month.”
The delinquency rate of loans extended to large firms stood at 0.42 percent at the end of October, up 0.02 percentage point from a month earlier. That of loans to households also rose 0.02 percentage point on month to 0.27 percent at the end of October, according to the data.
By Alex Lee and newswires (firstname.lastname@example.org