(Seoul = Yonhap News) Reporter Han Hye-won = It was found that the amount of money borrowed from savings banks by domestic companies and individuals soared by 9 trillion won this year.
Looking at the Bank of Korea’s economic statistics system on the 27th, the total balance of domestic savings bank loans as of the end of October this year is 74.39 trillion won. It is a scale of 9.35 trillion won, which is more than the end of December last year (65 trillion 504 billion won).
Savings bank loan balance surpassed 60 trillion won in April last year and 70 trillion won in July this year. It then surpassed 74 trillion won in 3 months.
Savings bank loans increased by as little as 300 billion won and as much as 1.5 trillion won each month from the end of the previous month. From July to October, it increased by more than 1 trillion won for 4 consecutive months.
If this rate of increase continues, there is a possibility that the increase will exceed 10 trillion won by the end of this year.
The increase in the amount of money borrowed from savings banks this year was influenced by the decreasing interest rate of savings bank loans.
According to the Federation of Savings Banks, only 23 out of 68 savings banks that dealt with household mortgage loans sold loans at an annual interest rate of 15% or more as of October.
Out of 35 savings banks that handle household credit loans, the average interest rate of all but one was below 20% per year.
Financial authorities continue to pressure the bank to manage lending rates below 20% per annum and increase mid-rate loans to the 10% range. In addition, the Bank of Korea’s benchmark interest rate, which is virtually zero interest rate, has also contributed to the decline in savings bank interest rates.
A savings bank official said, “Savings banks have entered the mid-interest rate loan market in earnest since the end of 2018, and the latent demand for loans is running more and more time.” “Here, self-employed people in the aftermath of a novel coronavirus infection (Corona 19) Mortgage loan demand has also increased a lot since this year,” he said.
Some point out that this steep lending trend is a factor in the financial market’s unrest.
In a financial stability report published on the 24th, the BOK said, “If the economic downturn in the future prolongs, the recent rapid loan growth may be a risk factor, so it is necessary to strengthen the internal risk management system and expand the ability to absorb losses.” Diagnosed.
| Savings Bank Credit Balance Status (Unit: KRW 100 million) ※ Source: The Bank of Korea | ||
| month | Credit balance (end of month) | Increase compared to the previous month |
| December 2019 | 650,504 | |
| January 2020 | 655,635 | 5,131 |
| February 2020 | 663,717 | 8,082 |
| March 2020 | 670,658 | 6,941 |
| April 2020 | 682,792 | 12,134 |
| May 2020 | 690,247 | 7,455 |
| June 2020 | 693,475 | 3,228 |
| July 2020 | 706,117 | 12,642 |
| August 2020 | 716,962 | 10,845 |
| September 2020 | 732,318 | 15,356 |
| October 2020 | 743,955 | 11,637 |
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2020/12/27 06:17 sent