S. Korean banks' loan delinquency ratio falls in March

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SEOUL, May 15 (Xinhua) -- South Korean banks' loan delinquency ratio fell in three months due to more bad loan settlement than new delinquent loan, financial watchdog data showed Wednesday.

Bank loan overdue at least one month stood at 0.43 percent of the total at the end of March, down 0.08 percentage points from a month earlier, according to the Financial Supervisory Service (FSS).

New delinquent loan amounted to 2.4 trillion won (1.8 billion U.S. dollars) in the month, lower than the settlement of non-performing loans worth 4.2 trillion won (3.1 billion dollars).

The delinquency ratio has roughly been on the rise after hitting a bottom at 0.20 percent in June 2022 on the back of the high policy rate.

The central bank had left its benchmark interest rate unchanged at 3.50 percent since January last year, after hiking it by 3.0 percentage points for the past one and a half years.

Excluding the settled bad loan, the delinquency ratio for new bank loan came to 0.11 percent in March, down from 0.13 percent in the previous month.

The delinquency ratio for bank corporate loan declined 0.11 percentage points from a month earlier to 0.48 percent at the end of March, while the ratio for household loan lost 0.05 percentage points to 0.37 percent. Enditem

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