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S. Korea's loan delinquency ratio turns downward in March

Xinhua, May 1, 2017 Adjust font size:

Loan delinquency ratio among South Korean banks turned downward in March as banks resolved delinquent loans by the quarter-end, financial watchdog data showed Monday.

The percentage of bank loans overdue more than a month came in at 0.51 percent of the total as of end-March, down 0.06 percentage points from a month earlier, according to the Financial Supervisory Service (FSS).

The ratio gained from 0.47 percent in December last year to 0.53 percent in January and 0.57 percent in February, before turning downward in March.

Banks resolved the overdue loans to make their books more sound than usual ahead of the quarter-end. Most of local banks disclose balance sheets when they announce quarterly earnings.

The delinquent loans reduced from 8.1 trillion won (7.1 billion U.S. dollars) in February to 7.3 trillion won in March.

As of end-March, the delinquency ratio for bank loans to big corporations declined 0.06 percentage points over the month to 0.67 percent. The figure for small companies lost 0.09 percentage points to 0.72 percent.

The ratio for household loans stood at 0.26 percent in March, down 0.03 percentage points from the prior month. Enditem (1 U.S. dollar equals to 1138.65 South Korean Wo