Non-bank household lending soars by almost 10 tln won in Q3

SEOUL (Yonhap) - Loans extended by non-bank financial institutions to households increased by 10 trillion won (US$8 billion) over the last three months, growing nearly two times faster than those by commercial lenders, data showed Thursday.
The amount of loans extended to households by non-bank institutions totaled 284.7 trillion won as of end-September, up 8.2 trillion won from three months earlier, according to the data by the Financial Services Commission (FSC).
If loans extended by the Korea Community Credit Cooperatives (KCCC) are included in the tally, the figure reaches nearly 10 trillion won. The FSC does not tally loans extended by the KCCC.
In contrast, household lending at commercial banks slowed over the three-month period, due mainly to the government's heightened efforts to clamp down on rising household debt.
Household lending at commercial banks increased by 5.2 trillion won to 447.5 trillion won over the cited period, growing much more slowly compared with non-bank institutions, the data showed.
South Korea's outstanding household loans stood at 732.2 trillion won, increasing 13.4 trillion won in the July-September period.