Real estate policies take a toll on lending

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Real estate policies take a toll on lending

Banks slowed their lending to consumers last month as the Seoul government intensified its efforts to control the real estate market through restrictive policies, data from the central bank showed Wednesday.

Outstanding household loans from banks totaled 772 trillion won ($723 billion) as of the end of February, according to the Bank of Korea. It was a 2.5 trillion won increase from a month earlier, slightly lower than the 2.7 trillion won rise seen in January.

But for the first two months of the year, household lending expanded a combined 5.2 trillion won, marking the largest two-month gain since 2008.

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