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S. Korean banks' loan delinquency ratio falls in March

05-04-2012 09:41 BJT

SEOUL, May 4 (Xinhua) -- South Korean banks' loan delinquency ratio fell in March as local lenders increased their resolution of sour loans ahead of the quarter-end, the financial watchdog said Friday.

The rate of bad loans overdue for more than one day came in at 1.09 percent of the total bank loans to companies and households as of the end of March, down 0.04 percentage point from a month earlier, according to the Financial Supervisory Service (FSS).

The March fall came after domestic banks resolved more overdue loans than usual ahead of the quarter-end, the watchdog said. Overdue loans resolved reached 2.9 trillion won in March, up 1 trillion won from a month before. Fresh delinquent loans grew by 2. 5 trillion won in March, unchanged from the previous month.

The delinquency ratio of banks' corporate lending stood at 1. 32 percent as of end-March, down 0.06 percentage point from a month earlier. The default rate for large corporations advanced 0. 05 percentage point to 0.47 percent, but the corresponding rate for small-and mid-sized enterprises (SMEs) dropped 0.09 percentage point to 1.58 percent.

The default rate of banks' household lending reached 0.84 percent as of end-March, down 0.01 percentage point from the previous month. The delinquency ratio for home-backed loans, which account for most of household loans, gained 0.02 percentage point to 0.76 percent, but the rate for other household loans such as credit loans dipped 0.06 percentage point to 1.01 percent.

By industry, the delinquency ratio for loans to builders and shipping firms declined by 0.45 percentage point and 0.24 percentage point each in March, but those for the project financing (PF) real estate area and the shipbuilding sector rose by 0.57 percentage point and 0.25 percentage point respectively.

Editor:Wang Lingfei |Source: Xinhua

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