Nov. 16 (Bloomberg) -- South Korean banks’ bad-debt ratio dropped to 1.66 percent of their total lending at the end of September compared with 1.73 percent three months earlier, the Financial Supervisory Service said in an e-mailed statement today.
The regulator will encourage local lenders to aggressively decrease bad debt so they can meet the agency’s guidance of 1.5 percent of non-performing loan ratio by the end of this year, the statement said.
--Editors: Seyoon Kim, Drew Gibson.
To contact the reporter on this story: Seonjin Cha in Seoul at email@example.com
To contact the editor responsible for this story: Chitra Somayaji at firstname.lastname@example.org