The Five Major Banks Record Largest Ever Increase in Household Loans and Mortgage Loans in August

Increase of 9.6 trillion and 8.9 trillion respectively
Surpassing 2021 records

Despite the financial authorities' policy to curb household loans, the increase in household loans and mortgage loans at the five major commercial banks last month surpassed the record high.

The outstanding balance of household loans at the five major banks (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup) stood at 725.3642 trillion won at the end of August, an increase of 9.6259 trillion won from July (715.7393 trillion won). In the case of mortgage loans, the balance was 568.6616 trillion won, up 8.9115 trillion won from the end of July (559.7501 trillion won).

The outstanding balance of household loans showed the largest monthly increase since January 2016, exceeding the previous record of 9.4195 trillion won in November 2020. Mortgage loans also recorded the largest monthly increase since 2016, surpassing the previous record of 7.5975 trillion won in July by 1.314 trillion won in just one month.

Credit loans increased by 849.4 billion won in one month, marking the largest increase this year. The balance of jeonse loans reached 118.8363 trillion won, up 212.2 billion won from the previous month (118.6241 trillion won), continuing an upward trend for four consecutive months since May this year.