Korea bank loans inched higher by 1.2% to KRW1,181tn

Corporate loans grew as well.

Korean bank loans in October rose 1.2% m-m, up 7.0% YTD and up 6.9% y-y to KRW1,181tn.

According to a research note from Nomura, meanwhile, corporate loans grew 1.1% m-m , up 8.0% YTD and up 6.8% y-y, driven by large corporate loans growth, up 1.6% m-m, up 11.4% YTD, and up 7.4% y-y.

Further, large companies took on more loans after redeeming loans in September, while demand for working capital increased as well.

The report also noted that SME loans increased by 0.9% m-m, up 6.9% YTD and 6.6% y-y.