Total amount of overdrafts, non-secured loans exceeds US$132 billion: BOK
- 9 years ago
The number of Koreans dipping deeper and deeper into their overdrafts and taking out unsecured bank loans appears to be growing.
The central bank says overdrafts and other forms of unsecured loans exceeded one-hundred-32 billion U.S. dollars as of the end of July.
The amount has added more than one-and-a-half billion dollars in the last seven months alone,... much faster than the corresponding rate last year.
Analysts say lower interest rates and falling disposable income,... prompted by the slowing economy,... have contributed to the growth of these types of loans and overdrafts.
The central bank says overdrafts and other forms of unsecured loans exceeded one-hundred-32 billion U.S. dollars as of the end of July.
The amount has added more than one-and-a-half billion dollars in the last seven months alone,... much faster than the corresponding rate last year.
Analysts say lower interest rates and falling disposable income,... prompted by the slowing economy,... have contributed to the growth of these types of loans and overdrafts.