Five Major Banks' Household Loan Growth Slows in October... 1.1 Trillion KRW Increase

Lower than 5.6 trillion won in September

Last month, the growth of household loans and mortgage loans at the five major banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) slowed down compared to the previous month.

According to the financial sector on the 1st, the outstanding balance of household loans at the five major banks at the end of October was 732.0812 trillion won. This is an increase of 1.1141 trillion won compared to the end of September (730.9671 trillion won). The increase sharply decreased compared to 9.6259 trillion won in August and 5.6029 trillion won in September.

The same applies to mortgage loans. The outstanding balance of mortgage loans was 575.6687 trillion won, an increase of 1.0923 trillion won compared to 574.5764 trillion won at the end of September. The increase also decreased compared to 8.9115 trillion won in August and 5.9148 trillion won in September. The increase in jeonse loans was 189.2 billion won in October, down from 212.7 billion won in September.

The increase in unsecured loans was 388 billion won, which was less than 849.4 billion won in August but more than 0.9 billion won in September.

Time deposits at the five major banks increased by 11.542 trillion won last month (from 930.4713 trillion won to 942.0133 trillion won). Regular savings deposits also increased by 910.2 billion won, from 38.0074 trillion won to 38.9176 trillion won. Demand deposits, which are standby funds, decreased by 9.9236 trillion won during the same period, from 623.3173 trillion won to 613.3937 trillion won.

Last month, the increase in household loans and mortgage loans at the five major banks (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup) slowed down compared to the previous month.
[Image source=Yonhap News]