S Korea’s P2P lending delinquency ratio hits record high

10th June, 2019 09:17:35 printer

SEOUL: The delinquency ratio of the South Korean peer-to-peer (P2P) lending firms hit a record high in April as the lending to property development projects turned sour, an industry data showed Monday.

The average delinquency ratio of 45 local P2P lending firms came in at 8.5 percent as of the end of April, according to the Korea P2P Finance Association cited by local media, reports Xinhua.

It was the highest since the association began compiling the data in June 2016. The ratio surged from 1.77 percent in April of 2018 and 0.89 percent in the same month of 2017 each.

The ratio is the portion of loans overdue at least one month.