The bank’s household loan balance has exceeded 1,000 trillion won for the first time ever.
Looking at the financial market trends in February announced by the Bank of Korea on the 10th, the balance of household loans by banks at the end of February was 1.3 trillion won. This is an increase of 6.7 trillion won compared to January. 2 If the scope is expanded to the financial sector, the increase will be even greater. According to the household loan trend in February, which was investigated and announced by the Financial Services Commission and the Financial Supervisory Service, the increase in household loans in all financial sectors reached 9.5 trillion won.
The increase in household loans was driven by mortgage loans. According to the financial authorities’ announcement, in February, mortgage loans increased by 7,700 billion won compared to the previous month. Among them, 6.4 trillion won is a bank loan. As of the end of February, the balance of the bank’s mortgage loan was 733 trillion won. The rest occurred in the 2nd financial sector.
Other loans increased by 1.8 trillion won compared to the previous month. Among other loans, credit loans from banknotes decreased by 14.3 billion won from February. The Financial Services Commission analyzed that “the cause of the decline in the demand for stock-related funds.” In addition, loans such as non-housing mortgage loans, deposit mortgage loans, and securities mortgage loans increased by 300 billion won from the previous month.
During the same period, other loans in the 2nd financial sector increased by 1.5 trillion won. Although the scale was down by 400 billion won from the previous month, compared to the same month of the previous year, it increased by 400 billion won. Among other loans, credit loans accounted for 700 billion won.
The Financial Services Commission said, “The increase in mortgage loans in the banking sector increased due to the same influence as Lee, but credit loans decreased due to a decrease in demand for funds related to stocks and bonuses for explanation clauses. Is similar to that of January,” he explained. The financial authorities added that they will prepare a household debt management plan in March to support the soft landing of household debt.