Banks’ bad loans edge down in Q1
[THE INVESTOR] Non-performing loans at Korean banks slightly fell at the end of March from three months earlier, thanks to ongoing efforts to clear bad debt, official data showed on June 8.
The ratio of bad loans to total lending came to 1.18 percent at the end of March, down 0.01 percentage point from a quarter earlier according to the data by the Financial Supervisory Service.
Bad loans extended to businesses reached 19.3 trillion won at the end of March, compared with 19.4 trillion won a quarter earlier, the data showed.
Non-performing loans extended to households stood at 1.6 trillion won at the end of March, unchanged from a quarter earlier, it showed.
The regulator said it will keep monitoring and supervising bad loans as there is a possibility that bad debt could jump as market interest rates go up.
By Song Seung-hyun and newswires (firstname.lastname@example.org)