Kookmin Bank Household Loan Growth Rate Surpasses 5%... Shift to Loan Management by Branches

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank has decided to manage the total volume of household loans by allocating new household loan limits differently for each branch.

According to the banking sector on the 6th, KB Kookmin Bank will manage the new household loan limits by branch starting this month. The branch-specific limit management will be operated temporarily until the end of the year. To protect low-income earners and genuine borrowers, group loans (interim payments and resident loans), construction Bogeumjari loans, and fund loans are excluded.

As of the previous day, KB Kookmin Bank's household loan balance recorded 169.989 trillion KRW, a 5% increase compared to the end of last year. With financial authorities setting a goal to manage the household loan growth rate at 5-6% this year, commercial banks including Kookmin Bank are strengthening loan management to cope with the increasing limits toward the end of the year.

Earlier, Woori Bank also took measures from this month to limit the monthly loan limit per branch to a minimum of 500 million KRW. Woori Bank changed the total volume management of household loans, which was done quarterly, to branch and monthly management. This measure was taken to avoid exhausting the remaining loan limit of 2.5 trillion KRW all at once by the end of the year.

A KB Kookmin Bank official said, "This measure will be operated temporarily until the end of the year to continuously supply limited loan resources to low-income earners and genuine borrowers amid the expanding increase in household loans despite management," adding, "We will do our best to minimize customer inconvenience due to limit management and ensure that funds are supported to genuine borrowers."

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