[Asia Economy Reporter Song Seung-seop] Pepper Savings Bank announced on the 2nd that the scale of new loans for green financing exceeded 80 billion KRW last month.
Pepper Savings Bank operates the "Pepper Green Financing" program to promote low-carbon economic growth and encourage the use of renewable energy. This program is a green finance initiative that offers interest rate discounts on loans when green buildings and eco-friendly vehicles are used as collateral. There is also corporate financial services targeting business customers with eco-friendly business models.
The green building interest rate preferential program, which started in January last year, has surpassed 10 billion KRW in new loan transactions. This program reduces interest rates by up to 1 percentage point annually when loans are applied for using buildings certified as green as collateral. The eco-friendly vehicle interest rate preferential program has exceeded 15 billion KRW in loan amounts. Since April last year, Pepper Savings Bank has been offering interest rate reductions of up to 2 percentage points annually when electric vehicles and hydrogen vehicles are used as collateral. Loans executed for corporate customers whose main business models are green energy and low-carbon economy amount to 55 billion KRW.
Matthew Jang, CEO of Pepper Savings Bank, emphasized, "The new loan amount through Pepper Green Financing has surpassed 80 billion KRW, generating a positive response," and added, "We will continue to introduce differentiated green finance programs."
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