Bloomberg News

South Korea Household Bank Loans Rise to 451.8 Trillion Won

November 09, 2011

Nov. 10 (Bloomberg) -- South Korea’s bank lending to households increased by 3.2 trillion won ($2.8 billion) last month to a record 451.8 trillion won, the Bank of Korea said in an e-mailed statement today.

Mortgage lending rose 2.4 trillion won to 302.1 trillion won, today’s report showed. Loans to companies increased by 7.4 trillion won to 561.1 trillion won.

The broadest measure of money supply, M2, gained 4.2 percent in September from a year earlier, according to a separate central bank statement. The gauge rose 4 percent in August.

--Editors: Patrick Harrington, Ken McCallum

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net


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