Daegu Bank Reduces Long-Term Delinquent Customer Debt by 50-90%
Debt Relief to Begin from the 1st of Next Month
5-Year Installment Payment Plan for Vulnerable Groups Also Available
DGB Daegu Bank will implement the 'DGB Hope Sharing Debt Reduction Program' starting March 1 to provide opportunities for recovery through debt adjustment for financially marginalized groups.
The debt reduction program will be conducted for four months until June and will apply the highest level of debt reduction rates among financial institutions.
Flexible reduction rates (50?90%) reflecting the diverse characteristics of customers who have long-term loan delinquencies will be applied, along with long-term installment payments of up to five years and incentives for faithful repayment, offering various relief measures to reduce repayment burdens and provide debt reduction benefits.
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A representative of DGB Daegu Bank stated, “DGB Daegu Bank, which is conducting various financial support programs for ordinary citizens, small and medium-sized enterprises, and financially vulnerable groups, will strive to revitalize microfinance through various credit recovery support initiatives.”
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