[서울신문] The soaring pre-set value is’zero’… First 1,000 trillion won in bank household loans

Headquarters increased by 6.400 billion a month to 733 trillion
Credit loans increased by 300 billion won, easing the sharp increase
“Impacts such as slowdown in stock investment demand and bonuses for New Year’s Day”

▲ Trends in the balance of household loans in banknotes

Bank household loans surpassed 1,000 trillion won for the first time. Although the rapid rise in credit loans has waned, demand for housing loans remains, and household loans have increased by nearly 7 trillion won last month alone.

According to the’Financial Market Trends in February’ announced by the Bank of Korea on the 10th, the bank’s household loan balance as of the end of February was 100.3 trillion won, an increase of 6.700 billion won from the end of the previous month (996 trillion won). It is the second largest increase in February after last year’s February (9.3 trillion won).

Among household loans, the balance of mortgage loans including cheonsei loans rose to 733 trillion and 300 billion won, an increase of 6.40 trillion won a month. The increase in jeonse loans also increased by 1 trillion won in February (3.4 trillion won) from January (2.4 trillion won). As of February, it was the second largest ever after last year (7.8 trillion won).

Other loans (268.900 billion won), which are mostly credit loans, increased by 300 billion won from the end of January. Compared to the previous month (2.6 trillion won) or last year (1.5 trillion won), the rate of increase has slowed. Park Seong-jin, deputy head of the Financial Markets Bureau’s Market Management Team, said, “We believe that credit loans have decreased as demand for stock investment has slowed and bonus payments have been made.”

Businesses’ bank loans increased by 8.90 trillion won, down from the previous month (10 trillion won). In February alone, the increase was the largest since June 2009, when related statistics were prepared. SME loans accounted for the majority of the increase at 8.4 trillion won. Among them, loans to private businesses amounted to 4,100 billion won, which is close to half.

Reporter Yoon Yeon-jung [email protected]