South Korean banks’ loan delinquency ratio falls

19 February, 2020 12:00 AM printer

SEOUL: South Korean banks’ loan delinquency ratio fell last year amid the record-low borrowing cost, financial watchdog data showed Tuesday.

The ratio of bank loans overdue at least one month stood at 0.36 percent of the total as of the end of December, down 0.04 percentage points from a year earlier, according to the Financial Supervisory Service, reports Xinhua.

It came amid 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, after lowering it from 1.75 percent to 1.50 percent in July.