Household Loans, June 2020

07/09/2020 | 02:03am

Press Release

July 9, 2020

HOUSEHOLD LOANS, JUNE 2020

The outstanding balance of household loans1 in all financial sectors rose KRW8.5 trillion from the previous month in June 2020 (up 5.4% year-on-year). The household loan balance increased KRW8.2 trillion in the banking sector and KRW0.4 trillion in the non-banking sector.

All financial sectors (y-o-y): +6.9% (June 2018) +4.6% (June 2019) +5.4% (June 2020)

By type, mortgage loans increased KRW5.1 trillion in June (up KRW2.4 trillion year-on-year). Regular mortgage loans, jeonse2 loans and group lending expanded KRW5.0 trillion in the banking sector, while non-banks saw an increase of KRW20 billion. Other types of loans showed an increase of KRW3.5 trillion (up KRW1.1 trillion year-on-year) as the demand for credit loans went up.

3>

(In trillion won)

2018

2019

2020

Jan-JunMayJunJan-JunMayJunJan-JunMayJunBanks Non-banks

+25.0 +8.6

+5.3 +1.4

+5.0 +1.2

+5.0 +0.9

+5.4 -0.3

+40.7

-4.4

+5.0 -1.1

+8.2 +0.4

Mutual finance

+0.6

Credit union Nonghyup Suhyup NFCF4 KFCC5

-1.66

-0.28

-0.27

-0.67

-0.2

-0.0

-4.9

-0.6

+0.2

-0.07

+0.01

-1.67

-0.24

-0.26

+3.16

+0.71

+0.94

+0.71

+0.29

+0.36

-0.39

+0.13

+0.70

+0.04

+0.01

+0.07

-0.14

-0.01

+0.08

+0.04

+0.06

+0.04

+0.09

+0.00

+0.01

+0.03

-0.05

-0.15

-4.76

-0.53

-0.52

-2.78

-0.52

-0.38

Insurance Savings banks Credit finance companies Total

+2.2

+0.4

+0.3

+0.9

+0.1

+0.1

+1.0

+0.2

-0.1

-1.1

-0.5

+0.1

+0.3

+0.0

+1.7

+0.2

+0.2

+0.2

+6.2

+0.6

-0.1

-0.1

-0.2

-0.1

+5.9

+5.1

+36.3

+3.9

+8.5

The government will closely monitor rising demand for credit loans while continuing to work on the stable management of household debt.

#

#

#

For any inquiry, please contact Foreign Press & Relations Team atfsc_media@korea.kr.

1

Preliminary

2

A lump sum deposit without monthly payments for rent

3

Advance estimates from the Financial Supervisory Service

4

National Forestry Cooperative Federation

5

Korean Federation of Community Credit Cooperatives

1

Disclaimer

FSC - Financial Services Commission of Korea published this content on 09 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 July 2020 06:02:07 UTC

Copier lien
Latest news about "Economy & Forex"
5m ago
17m ago
19m ago
24m ago
26m ago