The outstanding balance of loans to households rose KRW8.5 trillion in all financial sectors at the end of August 2021 (up 9.5% y-o-y).The balance of household loans increased KRW6.2 trillion in the banking sector and KRW2.3 trillion in the non-banking sector.

All financial sectors (y-o-y): +9.7% (Jun 2021) → +10.0% (Jul 2021) → +9.5% (Aug 2021)

By type, mortgage loans went up KRW7.2 trillion in August, expanding at a similar level compared with the previous month (up KRW7.4 trillion) as housing market transactions remained active.  Other types of loans including credit loans grew at a slower rate (up KRW1.4 trillion) compared with the previous month (up KRW7.9 trillion) due to large scale refunds of IPO subscription deposits taking place in the beginning of the month.