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Finance

Korean banks provide 2,100 tailored consulting sessions to 800 small merchants

South Korea’s banking sector provided 2,100 tailored consulting sessions to a total of 800 small merchants through a jointly promoted consulting programme, the Korea Federation of Banks said. The federation held a performance-sharing event in central Seoul on May 18 and disclosed results for start-up and closure consulting. Average participant satisfaction was 94.3 points. Of 800 participants, 682 responded to the survey, for an 85 percent response rate.

Finance

K Bank sole proprietor loan balance tops 3 trillion won, up 1 trillion won in six months

K Bank said on May 18 its loan balance to sole proprietors topped 3 trillion won as of May, rising by 1 trillion won in about six months after exceeding 2 trillion won in November. Growth was led by guarantee-backed loans and property-secured loans. The bank said it is expanding cooperation with regional credit guarantee foundations and local governments and has launched a Seoul-linked overdraft-style guarantee loan product.

Finance

Stock rally swells overdraft credit lines as banks balance profit and regulation

A stock market rally is fuelling renewed debt-backed investing by retail investors, pushing up overdraft credit line balances at South Korea’s major banks. Balances at the five biggest lenders rose from 39 trillion won at end-April to above 41 trillion won in May, the highest in about 3 years and 4 months. Banks see profit opportunities among high-credit borrowers but face potential pressure from regulators if household lending keeps rising.