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Bank Loan in South Korea

South Korean banks’ loan delinquency ratio declined in March from the previous month as banks ramped up efforts to clear defaulted lending, the financial regulator said Monday.

Eighteen local banks’ loans that are overdue one day or more totaled 1.06 percent of their total lending at the end of March, down from 1.14 percent as of end-February, the Financial Supervisory Service (FSS) said.

The fall follows two straight monthly gains as banks increased sales or write-offs of defaulted loans ahead of their quarterly accounting reports at the end of March, the FSS said.

The average delinquency ratio on corporate loans fell to 1.41 percent in March from 1.53 percent the previous month while that on household lending fell 0.05 percentage point to 0.63 percent, it added.

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