[THE INVESTOR] Household loans from local banks increased 11.8 percent on-year in September, according to data on Oct.12.
The loans amounted to 688.4 trillion won (US$613 billion) as of end-September, compared with 615.7 trillion won from a year earlier, according to the data from the Bank of Korea.
Compared with August this year, the amount rose by 6.1 trillion won. The on-month increase marked a decline from an 8.6 trillion-won gain in the previous month.
“Mortgages increased 5.3 trillion won from the previous month in September due to a rise in demand for collective loans,” the BOK said.
Collective loans are often associated with the reconstruction of old apartments.
(theinvestor@heraldcorp.com)
The loans amounted to 688.4 trillion won (US$613 billion) as of end-September, compared with 615.7 trillion won from a year earlier, according to the data from the Bank of Korea.
Compared with August this year, the amount rose by 6.1 trillion won. The on-month increase marked a decline from an 8.6 trillion-won gain in the previous month.
“Mortgages increased 5.3 trillion won from the previous month in September due to a rise in demand for collective loans,” the BOK said.
Collective loans are often associated with the reconstruction of old apartments.
(theinvestor@heraldcorp.com)
