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Wed, February 2, 2022 | 21:00
Companies
Shinhan Bank alerted by rising corporate delinquencies
Posted : 2019-08-29 15:42
Updated : 2019-08-29 19:06
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By Jhoo Dong-chan

Concerns are growing over Shinhan Bank's mounting corporate delinquencies, data suggests Monday.

This is in stark contrast to other commercial banks which have managed to reduce bad loans granted to large firms.

According to data released by the Financial Supervisory Service, the big four commercial banks' bad loans granted to large enterprises that were overdue by more than one month totaled 130.9 billion won ($107.8 million) in June, down 221.9 billion won, or 62.9 percent, from a year earlier.

Of them, the outstanding balance of such loans at KB Kookmin Bank stood at 3.2 billion won, down 96.9 billion won, or 96.8 percent, from the previous year's 100.1 billion won.

Woori Bank also managed to cut its bad loans to large firms to 21 billion won in June, down 40 billion won from the same period last year.

The figure for Hana stood at 32 billion won in the period, down 118 billion won, or 78.7 percent, from the year before.

Shinhan Bank saw its loans to big companies more than one month overdue jump 79.1 percent year-on-year to 74.7 billion won in the first half of the year from 41.7 billion won in the same period last year.

A Shinhan Bank official said the current delinquency state is temporary.

"Delinquency took place in the public corporate sector. We believe the figure will subdue in the second half of the year," the official said.



Emailjhoo@koreatimes.co.kr Article ListMore articles by this reporter



 
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