SEOUL, June 10 (Xinhua) -- South Korean banks' household loan fell last month due to the repayment of borrowing for stock investment, central bank data showed Thursday.

Debts, owed by households to banks, totaled 1,024.1 trillion won (918.6 billion U.S. dollars) at the end of May, down 1.6 trillion won (1.4 billion U.S. dollars) from a month earlier, according to the Bank of Korea (BOK).

It marked the first reduction in over seven years since January 2014 as people repaid debts, borrowed for investment in stocks.

The repayment came mainly from the investment in SK IE Technology, a battery materials subsidiary of SK Innovation that went public on the main bourse last month.

Mortgage loan, extended by banks to households, grew 4.0 trillion won (3.6 billion U.S. dollars) to 747.2 trillion won (670.2 billion U.S. dollars) as of end-May, but credit loan tumbled 5.5 trillion won (4.9 billion U.S. dollars).

Banks' corporate loan rose 5.7 trillion won (5.1 billion U.S. dollars) from a month earlier to 1,017.1 trillion won (912.3 billion U.S. dollars) at the end of May, after increasing 11.4 trillion won (10.2 billion U.S. dollars) in April. Enditem

Related

Go to Forum >>0 Comment(s)