Tag - Strict lending rules force households to turn to savings banks

Strict lending rules force households to turn to savings banks

Korean households took more loans from savings banks last year compared with the previous year as banks tightened their lending rules to stay financially healthy, the central bank said Monday. As of the end of 2015, outstanding household loans extended by savings banks stood at 13.69 trillion won ($11.9 billion), accounting for 1.2 percent of overall household loans worth 1,141.83 trillion won, according to the data compiled by the Bank of Korea. he ratio of 1.2 percent marks the highest since [...]

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