SEOUL, Oct. 12 (Xinhua) -- South Korean banks' lending to households grew at a slower pace in September than a month before due to a reduction in credit loans, the central bank said Wednesday.
Household loans extended by local banks reached 448.7 trillion won (382.65 billion U.S. dollars) as of the end of September, up 0.6 trillion won from a month earlier, the Bank of Korea (BOK) said in a statement.
The September growth was smaller than a 2.5 trillion won on- month increase tallied in August. The slower growth came after household borrowers paid off their credit loans with bonuses for Chuseok holiday that fell on the mid-September.
Credit loans to households dwindled 0.5 trillion won in September from a month earlier, down from a 1.3 trillion won on- month expansion in August.
Local banks' mortgage loan growth slowed last month as local banks refrained from expanding their home-backed lending after the government unveiled a set of measures in late June to curb excessive household debts.
Mortgage loans by domestic banks stood at 299.7 trillion won as of end-September, up 1.1 trillion won from the previous month. The expansion was slightly smaller than a 1.2 trillion won on- month growth recorded in August.
Source: www.xinhuanet.com
Household loans extended by local banks reached 448.7 trillion won (382.65 billion U.S. dollars) as of the end of September, up 0.6 trillion won from a month earlier, the Bank of Korea (BOK) said in a statement.
The September growth was smaller than a 2.5 trillion won on- month increase tallied in August. The slower growth came after household borrowers paid off their credit loans with bonuses for Chuseok holiday that fell on the mid-September.
Credit loans to households dwindled 0.5 trillion won in September from a month earlier, down from a 1.3 trillion won on- month expansion in August.
Local banks' mortgage loan growth slowed last month as local banks refrained from expanding their home-backed lending after the government unveiled a set of measures in late June to curb excessive household debts.
Mortgage loans by domestic banks stood at 299.7 trillion won as of end-September, up 1.1 trillion won from the previous month. The expansion was slightly smaller than a 1.2 trillion won on- month growth recorded in August.
Source: www.xinhuanet.com
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