| Mobile Web

Search results for credit loans

Finance

Korean banks\' loan delinquency rate rises to 0.67%; SME delinquency tops 1 percent

South Korean banks\' delinquency rate on won-denominated loans rose for a second straight month, driven by an increase in new delinquencies and a decline in the amount of delinquent loans written off or sold. The Financial Supervisory Service said the rate stood at 0.67% at end-May, up 0.06 percentage point from a month earlier. The delinquency rate on SME loans rose to 1.00%, while household loan delinquencies increased to 0.45%.

Games & Commerce

Post office launches pilot bank agency service for loan consultations in rural areas without bank branches

Korea Post has begun a pilot bank agency service to improve access to financial services in underserved areas. Korea Post chief Park In-hwan (박인환) visited the Cheongyang Post Office in South Chungcheong Province to inspect operations. The service allows residents in county-level areas without commercial bank branches to consult on and apply for bank loan products at head post offices. The pilot covers 20 post offices nationwide and offers consultations for eight products from four major banks.

Finance

Toss, SBI Savings Bank launch mid-rate loans for middle-to-low credit borrowers

Viva Republica, operator of Toss, will introduce mid-rate credit loans for middle-to-low credit borrowers with SBI Savings Bank using alternative credit assessment. Toss said it signed a business agreement with SBI Savings Bank on July 16 in Seoul to expand inclusive finance. The product, SBI Inclusive Loan with Toss, is set to launch on July 27 and will be available only through the Toss app, with annual interest rates of 7.9 to 13.5 percent.