Rise in household loans by major banks sharply slows on tougher lending rules

The rise in household loans extended by five leading banks here has slowed sharply, industry data showed Sunday, following a series of tighter regulations aimed at curbing home price hikes and household debts. Outstanding household loans at five major lenders — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — stood at 763.4 trillion won ($545.7 billion) as of Thursday, up 467.5 billion won from the end of August, according to the data. Average daily growth came to 26 billion won over the Sept. 1-18 period, slumping some 80 percent from the daily average increase of 126.6 billion last month. "The pace of household loan debt increase seems to be slowing due to factors such as the June 27 property market measure," a bank official said, adding it should be monitored whether the trend will continue through the end of the month. Since late June, authorities have imposed a 600 million-won cap on mortgage loans for property purchases in the capital region and suspended home-backed loans for multi-homeowners in an effort to rein in soaring housing prices. Housing transactions have surged inWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times