Bank delinquency rate at 0.51% highest in 4 years and 9 months
SME delinquency rate of 0.70%… 0.1%p↑ compared to previous month
The delinquency rate of large corporations also increased by 0.06% points to 0.18%.
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Last February, the bank’s loan delinquency rate hit 0.51%. This is the highest figure since May 2019 (0.51%), and it is the first time in 4 years and 9 months that the delinquency rate has been above the 0.5% level.
According to the Financial Supervision Service on the 24th, at the end of February, the delinquency rate of loans obtained by domestic banks (based on principal and interest outstanding for more than a month) recorded 0.51%, up 0.06 percentage points from last the previous month (0.45%). In February, the amount of new delinquency was calculated at 2.9 trillion won, and the amount of settled delinquent receivables was 1.3 trillion won. The new delinquency rate was 0.13%, the same as the previous month.
By sector, the increase in the delinquency rate (0.59%) of corporate loans was notable. The corporate loan delinquency rate increased by 0.09 percentage points from the end of the previous month, with the large company loan delinquency rate (0.18%) and the SME loan delinquency rate (0.70%) increasing by 0.06 percentage points and 0.10 percentage points, respectively. . Although the SME delinquency rate is at an all-time high, the delinquency rate of large companies is also increasing rapidly.
The home loan delinquency rate recorded 0.42%, up 0.04 percentage points from the end of the previous month (0.38%). Among these, the delinquency rate for home mortgage loans rose by 0.02 percentage points to 0.27%, and the delinquency rate for home loans (credit loans, etc.) excluding home mortgage loans rose by 0.10 percentage points to 0.84%.
The Financial Supervisory Service said, “The bank’s delinquency rate has been on the rise since the second half of 2022, but it is still low compared to the long-term average of the 10 years before the coronavirus,” and added, “In a situation where internal and external uncertainty increases, we will continue to expand loss absorption capacity, such as expanding loan loss reserves.” “We intend to lead it to,” he said.
Invest Chosun Paid Service Posted at 13:48 on April 24, 2024
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