SEOUL, Dec. 10 (Xinhua) -- South Korean banks' household lending rose for the 10th straight month in November, driven by sustained demand for mortgage and credit loans, central bank data showed Wednesday.
Household debt held by deposit-taking banks totaled 1,175.6 trillion won (about 799.7 billion U.S. dollars) at the end of November, up 1.9 trillion won from a month earlier, according to the Bank of Korea (BOK).
The debt has been expanding since February, though November's growth was lower than an increase of 3.5 trillion won in October.
Mortgage loans gained 700 billion won in November, a slowdown from the 2 trillion won increase in October.
The domestic real estate market has fluctuated in recent months, with nationwide apartment transactions reaching 54,000 in June, 34,000 in August and 47,000 in October.
Other household loans, including credit loans, credit lines and commercial real estate-backed loans, rose by 1.2 trillion won in November compared to the previous month. This growth was attributed to rising demand for borrowing to invest in stocks.
The BOK cut its benchmark interest rate by 25 basis points each in February and May to 2.5 percent after lowering it by the same basis points in October and November last year.
Separately, banks' corporate lending reached 1,372.2 trillion won at the end of November, up 6.2 trillion won from a month earlier. Lending to large corporations swelled 2.4 trillion won, while loans to small firms increased by 3.8 trillion won in November. ■
