Seoul: The delinquency rate on loans extended by local banks increased in January due to a rise in newly soured debts, data showed Friday. The delinquency rate on banks' won-denominated loans came to 0.56 percent last month, up 0.06 percentage point from the previous month, according to preliminary data from the Financial Supervisory Service (FSS).
According to Yonhap News Agency, the amount of newly delinquent loans reached 2.8 trillion won (US$1.87 billion) in January, reflecting an increase of 0.4 trillion won from the previous month. The data also indicated that the amount of write-offs of bad loans stood at 1.3 trillion won in the month, marking a decrease of 3.8 trillion won over the cited period.
The delinquency rate on corporate loans stood at 0.67 percent last month, registering an increase of 0.08 percentage point from a month before. The rate on household loans also rose by 0.04 percentage point to 0.42 percent over the cited period, the FSS reported.