5Monthly household loans 9rise by trillion won, banks impose successive restrictions on credit loans
5Household loans rose by more than trillion won in a single month, and have increased by trillion won since the start of this month, while credit loans surged by trillion won. Banks have implemented sweeping restrictions, including reducing credit-loan limits, adjusting interest rates, and blocking loan switching through platforms.9Household loans rose by more than trillion won in a single month, and have increased by trillion won since the start of this month, while credit loans surged by trillion won. Banks have implemented sweeping restrictions, including reducing credit-loan limits, adjusting interest rates, and blocking loan switching through platforms.2.8credit loans surged by trillion won. Banks have implemented sweeping restrictions, including reducing credit-loan limits, adjusting interest rates, and blocking loan switching through platforms.1.6Banks have implemented sweeping restrictions, including reducing credit-loan limits, adjusting interest rates, and blocking loan switching through platforms.
5Household loans rose by more than trillion won in a single month,9household debt is once again increasing rapidly. From an investor’s perspective, the rising trend in household debt increases financial-market sensitivity.
Since the start of this month, household loans at commercial banks have already risen by trillion won, and credit loans have surged by trillion won. The banking sector is paying close attention to this increase in credit loans.2.8credit loans have surged by trillion won. The banking sector is paying close attention to this increase in credit loans.1.6The banking sector is paying close attention to this increase in credit loans.
The banking sector is implementing sweeping restrictions, including reducing credit-loan limits and raising interest rates. Moves to limit credit-loan limits on non-face-to-face channels are also spreading.
Shinhan Bank announced that it will 6from the month of 15limit the amounts of unsecured loans available through non-face-to-face channels and reduce existing limits by up to 20% when extending the maturity of overdraft accounts. Hana Bank and others have also introduced limits on non-face-to-face loan amounts.
Woori Bank has suspended switching unsecured loans through loan comparison platforms. Banks are changing their systems to block short-term loan cycling through platforms.
The financial sector has diagnosed the phenomenon of individuals investing with borrowed money as having led to an increase in unsecured loans. Banks are stepping up their responses to adjust the supply of credit.