S Korean Banks Bad Loans Fall to Record Low

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00006131-s-korean-banks-bad-loans-fall-to-record-l/

Bad loans at South Korean banks fell to a record low last year, adding to signs that the banking sector has recovered from a consumer credit crisis.

Korean banks turned the corner last year, after suffering big losses in 2003, helped by their efforts to clean up hefty bad debt caused by years of reckless lending to consumers.

Financial Supervisory Service, the country?s financial watchdog, said: ?Banks aggressively reduced bad loans via write-offs and sales to improve their competitiveness. The amount of new bad loans also fell sharply.?

For this complete story, please visit S Korean Banks Bad Loans Fall to Record Low.

S Korean Banks Bad Loans Fall to Record Low

Unknown Author

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