Household Loan Decline Continues
[Asia Economy Reporter Buaeri] As deposit interest rates at major commercial banks have recently stalled, the balance of bank time deposits has decreased for two consecutive months.
According to the banking sector on the 1st, the time deposit balance of KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup Banks stood at 812.25 trillion won, down 6.1866 trillion won from the previous month. The deposit balance, which surged in the second half of last year, has been declining since December last year. As of the end of last month, the total deposit balance was recorded at 1,870.0581 trillion won.
The household loan balance was 688.6478 trillion won, down 3.8857 trillion won from the previous month. The household loan balance has been decreasing for 13 consecutive months from the beginning of last year through last month.
Mortgage loans slightly increased to 513.3577 trillion won compared to the previous month, but the credit loan balance decreased by 3.3516 trillion won to 115.6247 trillion won, resulting in an overall decline in household loans.
The jeonse loan balance also decreased by 1.5688 trillion won to 130.4182 trillion won compared to the previous month.
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