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The Korea Herald
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THE INVESTOR
March 29, 2024

Finance

Household lending growth slows down in Nov.

  • PUBLISHED :December 13, 2017 - 13:35
  • UPDATED :December 13, 2017 - 13:35
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[THE INVESTOR] Korea’s household lending by banks slowed down slightly last month, central bank data showed on Dec. 13.

Outstanding household loans from lenders came to 762.7 trillion won (US$698.40 billion) as of the end of November, according to the data by the Bank of Korea. This marks a 6.6 trillion-won increase from a month earlier, down from a 6.9 trillion-won rise in October

Mortgages climbed 3 trillion won on-month to 567.3 trillion won in November due to a steady rise in home transactions.

The BOK said other bank loans, including lending through an overdraft line of credit, gained a record 3.7 trillion won on-month to 194.5 trillion won due to a rise in demand for loans from two internet-only banks.

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

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