October Gwangju-Jeonnam Financial Institutions See Increased Deposit Growth... Loan Growth Contracts

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] In October, deposits at financial institutions in the Gwangju and Jeonnam regions showed an increased growth rate compared to the previous month, while loans decreased.

According to the financial institution deposit and loan trends announced on the 21st by the Bank of Korea Gwangju Jeonnam Headquarters, deposits at financial institutions increased from 368.5 billion KRW in the previous month to 944.6 billion KRW, expanding the growth rate.

Among these, deposit banks saw a turnaround from a decrease of 339.3 billion KRW to an increase of 332.3 billion KRW, driven by rises in public deposits and corporate demand deposits.

Non-bank deposit-taking institutions, centered on trust companies and credit cooperatives, saw their growth rate shrink from 707.8 billion KRW to 612.2 billion KRW.

Loans decreased in growth from 1.3699 trillion KRW to 1.0861 trillion KRW.

Deposit banks experienced a slowdown in the increase of household mortgage loans, reducing the growth rate from 619.2 billion KRW to 493.2 billion KRW.

Non-bank deposit-taking institutions saw a decrease in growth from 750.7 billion KRW to 592.8 billion KRW, mainly in household loans.

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