An increase of 900 billion won in June alone… Decline in household lending contrasts with the top 5 commercial banks
K-Bank’s receipts increased by 850 billion won last month… “The effect of the inflow of funds from the special sale and Upbit standby”
(Seoul = Yonhap News) Reporter Joo-Hyun Oh = Last month, the balance of loans (loan) of three internet banks (Kakao, K, and Toss Bank) increased by more than 900 billion won, maintaining an upward trend.
◇ “Sustained demand for loans from low to medium credit”… 6 trillion won in new internet bank loans in half a year
According to the banking industry on the 3rd, the loan balance of the three internet banks as of the end of last month stood at 39.74 trillion won, up regarding 911.8 billion won from the previous month. The increase has continued for six months.
By bank, Kakao Bank[323410]26,816.3 billion won, K-Bank 8.73 trillion won, and Toss Bank 4.2 trillion won.
This is an increase of 6.26 trillion won in six months compared to the end of last year (33,482.9 billion won).
Considering that the majority of internet bank loan portfolios are household loans, this contrasts with the phenomenon that the household loans of the five major commercial banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) have shown a downward trend for the sixth consecutive month.
The household loan balance of the five major commercial banks last month was 699.65 trillion won, down 1.4 trillion won from the end of May. Compared to the end of last year, this is a decrease of 9.4 trillion won in half a year.
While the recent decline in asset markets such as real estate, stocks, and virtual assets, the demand for loans from high-credit people has decreased, while the demand for loans from medium- and low-credit borrowers, such as for living expenses, is believed to have a steady effect.
Internet banks are focusing on increasing the proportion of loans to low-to-mid-credit borrowers this year as they did last year.
Although it still occupies a small portion of the loan portfolio, loans to individual businesses, which were first launched by Toss Bank among internet banks, are also showing a steady increase.
As of the end of June, the balance of Toss Bank’s ‘President’s Loan’ stood at 530 billion won. It has been regarding four and a half months since its launch on February 14th.
At a press conference on the 28th of last month, Toss Bank CEO Hong Min-taek said, “About 36% of the 4.2 trillion won loan balance is being supplied to low- and medium-credit borrowers. It’s because I’m achieving the goals I set for myself,” he said.
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◇ Special sale effect, K-Bank received for low-priced purchase of virtual assets
As funds flowed to high-interest savings and savings products amid the recent interest rate hike period, K-Bank’s increase in deposits was remarkable last month.
As of the end of June, K-Bank’s outstanding balance was 12.18 trillion won, an increase of 850 billion won from the previous month.
Last month, K-Bank had a special sale of 100,000 units of savings products with an annual interest rate of 5% on two occasions.
In addition, as the virtual asset market recently plummeted, some analysts say that standby funds flowed into K-Bank, a partnership with Upbit, a virtual asset exchange.
A K-Bank official said, “As Bitcoin recently plunged in the 25 million won range, it is estimated that a considerable amount of waiting funds to buy at low prices have flowed in.”
Meanwhile, Kakao Bank’s receipt balance at the end of June was 3310.8 trillion won, an exceptionally lower 198.9 billion won from the previous month. It is interpreted that some funds have escaped from the recent banknotes of special sale products.
Regarding the reason for the decrease in deposits, a Kakao Bank official said, “Lower-cost deposits such as demand deposits have been steadily increasing due to the increase in the number of customers and traffic (customer activity), but the total balance of deposits has decreased slightly as competition for savings deposits from all banks has intensified recently. “He said.
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