
ATM machines in Seoul / Yonhap
Family loans prolonged by main Korean banks decreased for the primary time in 10 months in January on sluggish actual property purchases, information confirmed Sunday.
Excellent family credit score prolonged by 5 main lenders — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — stood at 732.37 trillion received ($502.2 billion) as of Jan. 24, down 1.77 trillion received from a month earlier, in keeping with the information from the banks. Banks right here had been principally closed from Jan. 25-30 because of the prolonged Lunar New 12 months vacation.
It marks the primary time since March the excellent family credit score declined from a month earlier.
By sort, home-backed loans went up 1.66 trillion received from a month earlier in January, however credit score loans dropped by greater than 3 trillion received over the cited interval.
„Even with out the vacation impact, the January family mortgage tally doubtless contracted from December, contemplating the latest weak efficiency of the housing market and a downward development of credit score loans,“ an area financial institution official stated, including year-end bonuses may additionally have contributed to the autumn in family loans. (Yonhap)