April Gwangju-Jeonnam Deposit Growth Expands... Loans Decrease

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] In April, deposits in the Gwangju-Jeonnam region increased at a larger scale compared to the previous month, while loans showed a reduced growth rate.

According to the "April 2022 Financial Institution Deposit and Loan Trends in the Gwangju-Jeonnam Region" released on the 20th by the Bank of Korea Gwangju-Jeonnam Headquarters, deposits amounted to 1,872.9 billion KRW, showing a larger increase compared to 1,005.9 billion KRW in the previous month.

Among these, deposits at deposit banks increased mainly due to savings deposits, shifting from a decrease of 840.9 billion KRW in the previous month to an increase of 1,521.1 billion KRW.

On the other hand, deposits at non-bank deposit-taking institutions, which belong to the secondary financial sector, saw a reduced increase from 1,846.8 billion KRW in the previous month to 351.8 billion KRW.

Loans increased by 575.7 billion KRW, down from 869.3 billion KRW in the previous month.

Loans at deposit banks increased by 72.2 billion KRW, a smaller increase compared to 549.7 billion KRW in the previous month. Corporate loans slowed from 616.7 billion KRW to 210.1 billion KRW as large corporate loans turned to a decrease and the growth of small and medium-sized enterprise loans also slowed.

Household loans, mainly mortgage loans, saw a larger decrease from -69.6 billion KRW to -143.4 billion KRW.

Loans at non-bank deposit-taking institutions increased from 319.5 billion KRW in the previous month to 503.5 billion KRW.

In April, the deposit balance of financial institutions in the Gwangju-Jeonnam region was 155.4718 trillion KRW, about 2 trillion KRW higher than the previous month's balance of 153.5989 trillion KRW, while the loan balance was 129.3926 trillion KRW, showing an increase of about 500 billion KRW compared to 128.8169 trillion KRW in the previous month.

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