S Korean banks’ loan delinquency ratio stays low

22 January, 2020 12:00 AM printer

SEOUL: South Korean banks’ loan delinquency ratio stayed low in November on the record-low policy rate, financial watchdog data showed Tuesday.

Bank loans, overdue at least one month, stood at 0.48 percent of the total as of end-November, up 0.02 percentage points from a month earlier, according to the Financial Supervisory Service (FSS), reports Xinhua.

Despite the slightly gain, the loan delinquency ratio remained at a record-low level owing to the record-low policy rate.

The country’s central bank cut its benchmark interest rate to a record low of 1.25 percent in October last year, after lowering it from 1.75 percent to 1.50 percent in July.