SEOUL, April 28 (Xinhua) -- South Korean banks' lending rate turned downward in March due to a lower rate for corporate loans, central bank data showed Tuesday.
The weighted average rate for new bank loans reduced 0.06 percentage points from a month earlier to an annualized rate of 4.20 percent in March, after going up for the past four months, according to the Bank of Korea.
Corporate lending rate declined in March as banks offered preferential rate support aimed at increasing corporate credit exposure. ■
