88.9% of Total Performance by 6 Banks... Shinhan Bank Tops Supply Performance
NongHyup Bank Achieves High Growth Rate for 3 Consecutive Years... Industrial Bank Also Increases by 16.1%
This Year's Supply Target 3.5 Trillion... Financial Authorities "Will Make Active Efforts"
[Asia Economy Reporter Kwangho Lee] The Sae Hope Holssi loan, which supports low-credit and low-income individuals, recorded 3.7 trillion KRW last year, exceeding its target for the third consecutive year. This achievement corresponds to 110.9% of the 2018 supply target (3.3005 trillion KRW), 113.8% of the 2019 supply target (3.301 trillion KRW), and 108.2% of last year's supply target (3.4 trillion KRW). This year, the support amount is set at 3.5 trillion KRW, increasing by 100 billion KRW from last year's supply target.
The Financial Supervisory Service announced on the 19th that the supply performance of Sae Hope Holssi by 15 banks last year was 3.6794 trillion KRW, an increase of 279.4 billion KRW (7.6%) compared to the previous year, achieving 108.2% of the supply target (3.4 trillion KRW).
Since its launch in November 2010, Sae Hope Holssi has contributed to alleviating financial difficulties for 2.05 million low-income and vulnerable people, supporting 212,857 individuals last year alone.
The supply performance by bank is as follows: Shinhan (681.6 billion KRW), Nonghyup (610.2 billion KRW), Kookmin (597.5 billion KRW), Woori (551.8 billion KRW), Hana (525.9 billion KRW), and Industrial Bank of Korea (303.3 billion KRW).
The top six banks accounted for a total of 3.3 trillion KRW, representing 88.9% of the total performance.
Nonghyup showed a high growth rate for three consecutive years, increasing by 75.6 billion KRW (14.1%) compared to the previous year. Shinhan and Industrial Bank of Korea also increased by 44.6 billion KRW (7.0%) and 42.1 billion KRW (16.1%), respectively.
Following the decline in the base interest rate, the average interest rate of Sae Hope Holssi loans (newly issued) last year was 6.03%, down 0.98 percentage points from the previous year.
Last year's delinquency rate was 1.71%, down 0.52 percentage points from the previous year, maintaining stability.
This year's Sae Hope Holssi supply plan is set at 3.4 trillion KRW, an increase of 100 billion KRW from the previous year.
Specifically, the breakdown is 2.4395 trillion KRW (69.8%) from commercial banks, 739 billion KRW (21.1%) from special banks, and 318 billion KRW (9.1%) from regional banks.
A Financial Supervisory Service official said, "We will ensure that Sae Hope Holssi loans are smoothly supplied to low-income and vulnerable groups facing economic difficulties due to COVID-19," adding, "We will actively strive to achieve the supply target this year as well."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
