[中企-자영업자 덮친 고금리]
Banks “It is difficult to cut interest rates due to the bad economy”
While bank lending rates rose steeply following the sharp rise in the benchmark interest rate last year, the actual increase in interest rates was greater for corporate loans than for household loans, it was found. It is pointed out that the effect of interest rate cuts following recent pressure from the financial authorities is concentrated only on household loan products.
According to the National Federation of Banks on the 26th, the average interest rate of new corporate loans handled last month by the five major commercial banks, including KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup, was 5.21 to 5.62 percent per year. This is 0.3 percentage point higher than the average interest rate on household loans during the same period (4.92-5.32%).
This interest rate gap is the result of banks raising interest rates on corporate loans to a greater extent than on household loans in the second half of last year (July-December) when interest rates rose sharply. The average corporate loan interest rates of these banks rose from 3.88 to 4.20 percent in July last year to 4.86 to 5.82 percent in December. On the other hand, the average interest rate on household loans rose from 3.94-4.57% to 4.77-5.73% over the same period. In July of last year, the average interest rate on corporate loans, which was lower than on household loans, actually outpaced the interest rates on household loans in December.
Recently, banks are lowering their lending rates due to pressure from the financial authorities, but some point out that the rate of reduction is faster in household loans. In fact, in the case of Woori Bank, the interest rate on household loans fell by 0.41 percentage point from 5.73% to 5.32% in December last year.
Banks are explaining that the recent pressure from the financial authorities to cut interest rates has been concentrated on household loans and concerns regarding corporate loan defaults have been reflected. An official from a commercial bank said, “Household loans, mainly housing mortgage loans, have a relatively low risk even in a high interest rate situation. said.
Small and medium-sized enterprises (SMEs) and small business owners are complaining that banks need to be more active in reducing their interest burden. Cha Nam-soo, director of policy and public relations at the Small Business Federation, said, “From the perspective of coexistence, banks should lower interest rates on loans to small business owners and the self-employed and recognize the value of corporate collateral more broadly.”
Reporter Kim Do-hyung dodo@donga.com
Reporter Myungjin Yoon mjlight@donga.com