Arab Today, arab today s korean insurers\ household loans continue to rise
Last Updated : GMT 06:11:27
Arab Today, arab today
Arab Today, arab today

S Korean insurers\' household loans continue to rise

Arab Today, arab today

Arab Today, arab today S Korean insurers\' household loans continue to rise

Seoul - XINHUA

Household loans extended by South Korean insurers continued to rise over the past year as people increased their reliance on insurers for loans following the regulator's restriction on bank lending, data by the financial watchdog showed Tuesday. Debts owed by households to insurance companies reached 72.9 trillion won (64.23 billion U.S. dollars) as of the end of June, up 14 percent from 63.8 trillion won a year earlier, according to the Financial Supervisor Service (FSS). Insurance contract loans, which take refund on the contract cancellation as collateral, expanded to 44.6 trillion won as of end-June from 39.3 trillion won a year before. Home-backed loans increased from 19.4 trillion won to 21.9 trillion won over the cited period, with credit loans growing from 4.3 trillion won to 4. 7 trillion won. South Korean households raised their dependence on insurers for mortgage loans and credit loans after the financial regulator tightened rules on banks' household lending. The regulator introduced comprehensive countermeasures against excessive household debts in the banking sector last June, boosting shift of loan demand from banks to non-banking financial institutions such as insurers. The ratio of mortgage loans overdue for more than one month stood at 0.6 percent of the total as of end-June, up 0.03 percentage point from a month earlier, according to the FSS. The ratio was sharply up from 0.43 percent at the end of September last year, boosting concerns over households' debt-servicing capabilities. Meanwhile, corporate loans extended by insurers amounted to 33. 2 trillion won as of the end of June, up from 27.6 trillion won a year before, according to the FSS. Loans to small- and mid-sized enterprises (SME) increased to 22.6 trillion won as of end-June from 18.5 trillion won the previous year, with real estate project- financing loans rising from 5.1 trillion won to 5.9 trillion won over the same period. The delinquency ratio of corporate loans fell 0.03 percentage point on-month to 1.46 percent at the end of June. The default rate for SME loans declined 0.03 percentage point to 2.11 percent over the cited period, with the one for property-related loans sliding 0.03 percentage point to 6.24 percent. 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korean insurers\ household loans continue to rise Arab Today, arab today s korean insurers\ household loans continue to rise

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korean insurers\ household loans continue to rise Arab Today, arab today s korean insurers\ household loans continue to rise

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday