SEOUL, Sept. 13 (Xinhua) -- South Korean banks' household lending rose for the fifth straight month due to higher demand for mortgage loan, central bank data showed Wednesday.
Debts owed by households to deposit-taking banks advanced 6.9 trillion won (5.2 billion U.S. dollars) from a month earlier to hit a new high of 1,075 trillion won at the end of August, according to the Bank of Korea (BOK).
The household lending has risen since April as demand for mortgage loan increased amid expectations for the BOK's unwillingness to hike rates in the foreseeable future.
The BOK had left its key rate unchanged at 3.50 percent since January after raising it by 3.0 percentage points for the past one and a half years.
Banks' mortgage loan expanded 7 trillion won last month, keeping an upward trend for the sixth successive month on the supply of the government-backed mortgage loans to prop up the faltering housing market.
Other loans to households, including credit loan, credit line and commercial real estate-backed loan, fell 100 billion won in the cited month.
Banks' corporate loan amounted to 1,226.9 trillion won at the end of August, up 8.2 trillion won from a month earlier.
Lending to big companies expanded 2.9 trillion won, and loan to small firms advanced 5.2 trillion won last month. (1 South Korean won equals 0.00075 USD) ■