Bank loan delinquency rate inches up in November

The delinquency rate of Korean banks’ won-denominated loans edged up in November 2017 due to a slight rise in the number of people who failed to repay their debts, according to government data on Wednesday.

The rate for bank loans more than 30 days overdue stood at 0.49 percent at the end of November, up 0.01 percentage point from a month earlier, according to the data from the Financial Supervisory Service (FSS).

Compared to a year ago, however, the rate was down 0.15 percentage point, it said.

The FSS attributed the marginal increase in newly delinquent loans to the rise in people not meeting their payment dates.

The delinquency rate of loans extended to large firms stood at 0.42 percent at the end of November, up 0.01 percentage point from October. That of loans to households also rose 0.01 percentage point on-month to 0.28 percent at the end of November, according to the data.

Yonhap