The balance of loans from insurance companies in the first quarter of 269 trillion won… 3.4 trillion increase from the previous quarter

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In the first quarter of this year, the balance of loans from insurance companies stood at 269.5 trillion won, an increase of 3.4 trillion won from the end of last year.

According to the ‘Status of Insurance Company Loans as of the End of March 2022′ released by the Financial Supervisory Service on the 20th, household loans among insurance companies’ loans stood at 128.8 trillion won, an increase of 300 billion won from the end of last year. Corporate loans stood at 140.5 trillion won, up 3.1 trillion won from the end of last year.

(Photo = Image Today)

The delinquency rate on loans from insurance companies was 0.18%, an increase of 0.05%p compared to the fourth quarter of last year. Real estate PF loans stood at 0.31%, up 0.24%p from the fourth quarter of last year. The non-performing loan ratio of insurance companies was 0.13%, the same as in the fourth quarter of last year.

The Financial Supervisory Service said, “In preparation for the increase in economic volatility due to the rise in interest rates and exchange rates and the continued Ukraine crisis, we will continue to monitor loan quality indicators such as delinquency rates, and, when interest rates rise, ensure sufficient provision for bad debts (including reserves) in consideration of the deterioration of the borrower’s ability to repay the principal and interest. Through this, we plan to induce the strengthening of loss absorption capacity.”

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