SEOUL, March 11 (Xinhua) -- South Korean banks' household lending fell for the third consecutive month amid the government's efforts to curb housing purchase with borrowed money, central bank data showed Wednesday.
Debt owed by households to deposit-taking banks totaled 1,172.3 trillion won (799.1 billion U.S. dollars) at the end of February, down 0.3 trillion won (204.5 million dollars) from a month earlier, according to the Bank of Korea (BOK).
It was slower than the previous month's 1.1 trillion won (749.8 million dollars) reduction, but the debt continued its downward trend since December last year, driven by the government's efforts to rein in mortgage loans.
Banks' mortgage loans grew 0.4 trillion won (272.7 million dollars) in February, marking the rebound in three months on demand for moving in the new school year.
The domestic real estate market fluctuated in recent months, with the number of apartment transactions across the country reaching 43,000 in November, 42,000 in December last year and 48,000 in January this year.
Other loans to households, including credit loans, credit line and commercial real estate-backed loans, decreased 0.7 trillion won (477.2 million dollars) in February compared to the previous month.
The BOK left its benchmark interest rate unchanged at 2.50 percent after reducing it by 25 basis points in February and May of 2025 and in October and November of 2024.
Banks' corporate loans stood at 1,379.2 trillion won (940.2 billion dollars) at the end of February, up 9.6 trillion won (6.5 billion dollars) from a month earlier.
Lending to big companies mounted 5.2 trillion won (3.5 billion dollars), while loans to small firms swelled 4.3 trillion won (2.9 billion dollars) last month. ■
