Bank Time Deposits Surpass 700 Trillion Won... Household Loans Decline for 7 Consecutive Months

[Asia Economy Reporter Bu Aeri] The balance of fixed deposits at the five major commercial banks surpassed 700 trillion won for the first time.

According to the five major commercial banks (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup) on the 1st, the balance of fixed deposits at these banks as of the end of last month recorded 712.4491 trillion won, an increase of 27.3532 trillion won compared to the previous month.

It is interpreted that a large amount of money flowed into commercial banks as the Bank of Korea implemented a big step by raising the base interest rate by 0.5 percentage points last month.

The balance of regular savings deposits was 38.1167 trillion won, an increase of 6.524 billion won compared to a month earlier.

Loans continued to decline for seven consecutive months. The balance of household loans at the five major commercial banks has been decreasing for seven months since January this year.

The balance of household loans at the end of last month was 697.4367 trillion won, down 2.2154 trillion won from the previous month.

By type, the balance of mortgage loans was 506.6804 trillion won, and the balance of credit loans was 128.8256 trillion won, decreasing by 91 billion won and 1.8533 trillion won, respectively. However, the balance of jeonse deposit loans was 133.4007 trillion won, an increase of 49.46 billion won compared to a month earlier.

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