LENDING & CREDIT | Cesar Tordesillas, Korea

Korean banks increase long-term foreign borrowing

South Korean banks rushed to secure long-term foreign currency loans to prepare for a possible crisis.


The Financial Supervisory Service, South Korea's financial watchdog, reported that the rollover rate of long-term external debts with a maturity of one year or more at 12 domestic banks, excluding regional banks, stood at 299.3 percent in October, sharply up from 186.6 percent a month earlier.

The sharp rise in fresh foreign debts was mainly attributable to domestic banks that proactively secured long-term funds to get ready for a crisis situation and year-end book closing, the FSS said.

For the source of thsi story, click here.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.