(Seoul=NSP NEWS AGENCY) = The balance of corporate loans stood at KRW 1247.7 trillion last year. This is because companies raised funds through loans rather than the corporate bond market. Household loans shrank due to seasonal factors such as the influx of year-end bonuses.
According to the ‘Financial Market Trends for December 2023’ released by the BOK on the 10th, the balance of bank corporate loans stood at KRW 1247.7 trillion at the end of December last year.
“Corporate loans increased by more than KRW 100 trillion in 2022, with a significant increase this year due to the pattern of companies raising funds through lending rather than the corporate bond market,” said a deputy head of the market general team at the BOK’s Financial Market Department.
At the end of December last year, the bank’s household loan balance stood at KRW 109.5 billion.
Bank household loans(including residential mortgages) narrowed considerably, with growth in mortgage loans decelerating and other loans expanding.
The increase in mortgage loans decreased from KRW 5.7 trillion to KRW 5.2 trillion due to the decline in housing sales transactions. The decline in other loans expanded due to the influence of seasonal factors such as the inflow of year-end bonuses and the sale and write-off of non-performing loans.
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