World

S. Korean banks' lending rate rebounds in September

SEOUL
2023-10-27 14:15

Already collect



SEOUL, Oct. 27 (Xinhua) -- South Korean banks' lending rate rebounded in three months amid the prolongation of restrictive monetary policy stance, central bank data showed Friday.

The weighted average rate for new bank loans gained 0.07 percentage points from a month earlier to an annualized 5.17 percent in September, after sliding 0.07 percentage points for the past two months, according to the Bank of Korea (BOK).

The BOK had left its policy rate unchanged at 3.50 percent since January, after increasing it by 3.0 percentage points for the past one and a half years.

Rate for banks' new corporate loans advanced 0.06 percentage points over the month to 5.27 percent in September.

The lending rate for big companies added 0.01 percentage points to 5.18 percent, while the rate for small firms went up 0.10 percentage points to 5.34 percent.

Rate for new bank loans to households rose 0.07 percentage points to 4.90 percent last month, keeping an upward trend for the second consecutive month.

Mortgage loan rate for households added 0.04 percentage points to 4.35 percent, and credit loan rate climbed 0.06 percentage points to 6.59 percent.

The weighted average rate for new bank deposits increased 0.16 percentage points over the month to an annualized 3.81 percent in September.
Add comments

Latest comments

Latest News
News Most Viewed