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Loan delinquency among S. Korean manufacturers surge
2012.11.02 16:30:32 | 2012.11.02 17:29:24
The delinquency ratio of corporate loans provided to South Korean manufacturers is surging as they fail to earn fast enough to pay down their debt due to a prolonged economic recession.

[Loan delinquency among S. Korean manufacturers surge] 기사의 본문 이미지

According to a Seoul-based large commercial bank Friday, the delinquency ratio of its corporate lending for manufacturers jumped to 2.4 percent in the third quarter (Q3) of this year from 1.9 percent in the previous quarter. The figure stood at 1.3 percent in Q3 of last year.

The delinquency ratio of overall corporate loans grew from 1.6 percent to 1.7 percent at the bank in the same period. Manufacturers accounted for 38 percent of this bank’s corporate debts.

Property and leasing service firms represented 17 percent of the bank’s total corporate lending and their delinquency ratio rose slightly from 0.6 percent in Q2 to 1.0 percent in Q3. Wholesalers which represented 13 percent of the corporate credit grew from 1.0 percent to 1.2 percent during the cited period.

Other corporate borrowers of the local bank in finance, insurance, lodging, food, broadcasting, information service industries saw their delinquency ratio unchanged.

Education service borrowers witnessed their delinquency ratio soar from 0.6 percent to 1.7 percent on-quarter in Q3.

[Written by Yong-beom Park / edited by Soyoung Chung]


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