SBI Savings Bank Grants 30 Billion KRW Debt Repayment Deferral for Vulnerable Borrowers
Implementation of In-House Debt Adjustment Program for 2 Months
SBI Savings Bank announced on the 4th that it has granted repayment deferrals on debts totaling 30 billion KRW over two months since implementing its own debt adjustment program.
SBI Savings Bank has been operating its own debt adjustment program since June to ease the repayment burden on vulnerable borrowers struggling due to recent interest rate hikes and economic slowdown. From June to last month, 1,285 borrowers received repayment deferrals, including 1,255 individual borrowers (29.054 billion KRW) and 30 self-employed borrowers (1.0535 billion KRW).
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "We're Now Earning 10 Million Won a Month"... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]
Jung Kyung-ho, Head of Retail Support at SBI Savings Bank, stated, “Most customers using secondary financial institutions such as savings banks are facing significant difficulties due to interest rate increases and economic recession, making support urgently needed. We will continue to expand the eligible recipients and support amounts to faithfully fulfill the role of a financial institution serving ordinary citizens.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
