[THE INVESTOR] Loans extended to local businesses by non-banking lenders surpassed 100 trillion won (US$88.4 billion), data showed on April 24.

Outstanding corporate loans extended by savings banks and other non-banking financial firms came to 102.12 trillion won at the end of February, according to data from the Bank of Korea.

Loans extended to small and medium enterprises came to 84.91 trillion won, accounting for 83.1 percent of the total loans extended to local businesses by non-banking lenders, according to the latest findings.

The average interest rates on fresh corporate loans extended by savings banks came to 7.57 percent in February, higher than the 3.49 percent charged by banks.

By Alex Lee and newswires (alexlee@heraldcorp.com)