Banks' loan delinquency rate falls to record low in June: report

Delinquency rate for loans extended to both companies and households declined.

The delinquency rate for South Korean banks' won-denominated loans fell to 0.33% as of end-June, reports Yonhap News Agency, based on data from the Financial Supervisory Service.

This is 0.09 percentage points (ppt) lower than in May and marks the lowest since the financial watchdog began to compile related data in 2007.

Compared with a year ago, the rate was also down 0.09ppt, the report noted said.

Meanwhile, the delinquency rate for loans extended to companies fell 0.13 ppt on-month to 0.39% in June.

Loans to households fell 0.05 ppt on-month to 0.25%.

Photo courtesy of Aleksander Pasaric from Pexels

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