Over 4 Trillion Won Increase in Household Loans at 5 Major Banks in January

Credit Loans Turn to an Increasing Trend

[Image source=Yonhap News]

[Asia Economy Reporter Park Sun-mi] Household loans from the five major domestic commercial banks increased by more than 4 trillion won compared to the previous month in January.

According to the banking sector on the 1st, the outstanding balance of household loans at the five major banks?Kookmin, Shinhan, Hana, Woori, and Nonghyup?as of the end of January was 674.3738 trillion won, an increase of 4.2199 trillion won from 670.1539 trillion won in December last year.

The increase in household loans shrank to about one-third from 941.95 billion won in November last year to 318.23 billion won in December, but expanded again in January, exceeding 4 trillion won. It is interpreted that the increase in household loans expanded as banks, which had tightened lending last month, resumed the sale of loan products at the beginning of the year.

Both unsecured loans and mortgage loans increased.

With the KOSPI index surpassing 3,000 in January and money flowing into the stock market, the outstanding balance of unsecured loans recorded 135.24 trillion won at the end of January, an increase of 1.5918 trillion won compared to the previous month. Unsecured loans had decreased by 44.3 billion won in December last year but turned to an increase in January.

In January, mortgage loans also rose by 2.583 trillion won from the previous month to 476.3679 trillion won.

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