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Financial firms' corporate lending hits record high in Q1

June 01, 2012 11:54|July 04, 2012 13:13
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Industrial lending by deposit-taking financial institutions expanded by 6.5 trillion won or 4.4% to 775.7 trillion won in the first quarter, led by the manufacturing sector, the central Bank of Korea(BOK) said on May 31.

The total lending amount is the largest since 2008 when the BOK started releasing the information.

Corporate lending by depository banks increased by 7.7% to 617.2 trillion won, while those of non-bank depository institutions felll 6.8% to 158.5 trillion won.

By purpose, there was an increase of 8.9 trillion won in loans for facilities investment, and a 2.4 trillion won decline in those for working capital.

Lending to the manufacturing sector expanded by 9.9 trillion won or 10.8% to 261.2 trillion won with lending to the service sector and construction sector decreasing by 3.1 trillion won and 0.1 trillion won.