Household Loans Soar to 18.3 Trillion Won in November Due to Last-Minute Demand for Unsecured Loans

Increase in Growth Margin by 4.7 Trillion Won Compared to Previous Month

Bank counter reference image (Source=Yonhap News)

[Asia Economy Reporter Kim Hyo-jin] The Financial Services Commission and the Financial Supervisory Service announced on the 9th that household loans in the financial sector increased by 18.3 trillion won in November compared to the previous month. The increase was 4.7 trillion won more than the previous month (13.6 trillion won).

In the banking sector, household loans grew by 13.6 trillion won in November compared to the previous month. The increase expanded by 3 trillion won from the previous month (10.6 trillion won). In the secondary financial sector, household loans increased by 4.7 trillion won in November, which was 1.8 trillion won more than the previous month (2.9 trillion won).

Housing mortgage loans in the financial sector increased by 6.8 trillion won in November. The increase was 500 billion won less compared to the previous month (7.3 trillion won).

In the banking sector, group loans slightly expanded compared to the previous month, but the increase in jeonse deposit loans slowed down, resulting in a decrease of 600 billion won in the increase of housing mortgage loans (6.2 trillion won) compared to the previous month (6.8 trillion won). The secondary financial sector saw an increase of 600 billion won, which was 100 billion won more than the previous month (500 billion won).

Other loans, including credit loans, increased by 11.5 trillion won in the financial sector last month. This was an expansion of 5.3 trillion won compared to the previous month (6.2 trillion won).

In the banking sector, credit loans increased by 7.4 trillion won due to demand for funds for public offering subscriptions and preemptive demand caused by strengthened regulations. The increase was 3.6 trillion won more than the previous month (3.8 trillion won).

In the secondary financial sector, loans increased by 4.1 trillion won. Similar to the banking sector, the increase was 1.7 trillion won more than the previous month (2.4 trillion won).

The financial authorities forecasted, "Household loans in December will gradually stabilize due to the offsetting effect of preemptive demand for credit loans and the full implementation of (loan regulation) measures."

The financial authorities also stated, "We will continue to monitor household loan trends without lowering vigilance, including checking the implementation status of loan management plans by each bank."

This content was produced with the assistance of AI translation services.