5 Major Banks' Time Deposit Balances Surpass 800 Trillion Won... Household Loans Decline for 10 Consecutive Months

Clear Increase in Corporate Loans... Large Corporate Loans Reach Largest Growth Since March 2020

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Je-hoon] Due to the impact of high interest rates, the balance of time deposits at the five major commercial banks has exceeded 800 trillion won. Meanwhile, household loans decreased by nearly 1.4 trillion won, marking a decline for the tenth consecutive month.

According to the financial sector on the 1st, as of the end of last month, the balance of time deposits at the five major commercial banks (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup) was recorded at 808.2276 trillion won. This represents an increase of 47.7231 trillion won (6.3%) compared to the end of the previous month.

During the same period, the balance of installment savings was 3.9017 trillion won, down by 30.8 billion won (0.8%), and the balance of demand deposits was 626.0159 trillion won, down by 2.999 trillion won (4.4%).

Looking at loan balances, while corporate loans centered on large enterprises showed a clear increase, household loan demand continued to decline. The balance of large enterprise loans at the five banks was 107.1474 trillion won, an increase of 6.6651 trillion won (6.6%). This increase is the largest in two years and seven months since March 2020 (8.0949 trillion won). The balance of small and medium-sized enterprise loans was 597.5233 trillion won, up by 3.1066 trillion won (0.5%).

Household loans showed a decline for the tenth consecutive month. The balance of household loans was 693.6475 trillion won, down by 1.4354 trillion won (0.2%).

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