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Brunei
Friday, July 1, 2022
23.2 C
Brunei
Friday, July 1, 2022
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    South Korea’s bad debt ratio for households remains stable

    SEOUL (Xinhua) – The bad debt ratio for South Korean households remained stable amid the low borrowing cost, financial watchdog data showed yesterday.

    The ratio of bank loan to households, overdue at least one month, was 0.29 per cent of the total as of end-July, up 0.02 percentage points from a month earlier, according to the Financial Supervisory Service (FSS).

    The rate for mortgage loan was unchanged at 0.20 per cent, but the figure for credit loan advanced 0.04 percentage points to 0.49 per cent.

    The bad debt ratio remained in a stable level as the country’s central bank lowered its policy rate in July by 25 basis points to 1.50 per cent.

    Expectations ran high for the central bank to cut the target rate further by the end of this year.

    The delinquency ratio for banks’ corporate loan gained 0.06 percentage points from a month earlier to 0.59 per cent as of end-July. From a year earlier, it was down 0.23 percentage points.

    The ratio for loan to big corporations inched up 0.01 percentage point over the month to 0.67 per cent at the end of July, but the figure for loan to small firms picked up 0.07 percentage points to 0.57 per cent.

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