Household Debt Uncontrolled... 5 Major Banks' Household Loan Balances Soar by 4 Trillion Won in One Month

October 686 Trillion → Last Month 690 Trillion
7 Consecutive Months of Increase Since April
Corporate Loans Also Rising Across the Board

The outstanding balance of household loans at the five major domestic commercial banks increased by more than 4 trillion won in just one month. Despite financial authorities' regulations, the scale of household debt has continued to rise for seven consecutive months.

According to the five major commercial banks?KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup?last month, the outstanding balance of household loans at these banks was 690.3856 trillion won, up 4.3737 trillion won from the previous month (686.0119 trillion won). This figure has been increasing for seven consecutive months since April (677.4691 trillion won).

The increase in household loans was driven by mortgage loans. The outstanding balance of mortgage loans at these banks last month was 526.2223 trillion won, an increase of 4.9959 trillion won from one month earlier (521.2264 trillion won). Mortgage loans have also maintained an upward trend for seven consecutive months since April (508.9827 trillion won).

On the other hand, the outstanding balance of jeonse deposit loans has been steadily decreasing this year. It fell by 32.76 billion won from 121.7043 trillion won in October to 121.3767 trillion won last month. Credit loans also slightly decreased during the same period, from 107.9424 trillion won to 107.7191 trillion won.

Corporate loans also continued to increase. The outstanding balance of large corporate loans at the five major commercial banks last month was 138.3119 trillion won, up 96.27 billion won from the previous month (137.3492 trillion won). For small and medium-sized enterprises, the balance rose by 364.62 billion won from 626.9667 trillion won to 630.6129 trillion won in one month. Loans to individual business owners also increased by 81.23 billion won, from 319.556 trillion won to 320.3683 trillion won.

A counter at a major commercial bank in Seoul on the 30th. Photo by Jinhyung Kang aymsdream@

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