(MENAFN) The pace of loans volume given to local industries by S Korean banks has slowed because of a significant drop in lending to manufacturers and builders, although it was on the rise through the April-June period.
Loans to local companies summed to USD770.6 billion in the second quarter surpassing the USD761 billion mark for the first time, however, the amount at USD10 billion braked down from a USD14 billion logged in the first quarter.
Loans to manufacturers improved USD2.2 billion on-quarter to USD269 billion, but severely plunging from USD6.5 billion development in the previous quarter, according to the latest released data.
"Among many factors that led to an increase, it seems that loans to the property developing and leasing sector gained as more peopled turned to other sources of investment amid low interest rates," explained a Bank of Korea official.
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