Growth of S.Korean banks' industrial loans hits record high
22/8/2008 17:22
South Korean bank's industrial loans rose 12.1 percent in the first half,
growing at the fastest pace in history, the nation's central bank said
today.
According to the Bank of Korea, the amount of corporate lending
reached 493.4 trillion won (US$467.4 billion) in the January-June
period.
"The growth of local banks' industrial lending hit a record high in
the first half on higher demand from smaller companies," said Kim Hwa-yong, an
official at the central bank. "Some larger firms also borrowed money to cover
mergers and acquisitions."
By industry, bank loans to manufacturers and
builders grew at their fastest clip in the first half contributing greatly to
the total growth of industrial loans.
Lending to manufacturers amounted to
168.5 trillion won (159.6 US$US billion), gaining 18.7 trillion won (US$17.7
billion) while that to construction firms rose 7.2 trillion won (6. US$8
billion) to 51.5 trillion won (US$48.8 billion), the BOK said.
Xinhua
|
