S. Korean banks' corporate lending growth hits record high in April

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SEOUL: South Korean banks' corporate lending growth hit a record monthly high in April as the Covid-19 (coronavirus) outbreak increased loan demand from companies to secure short-term liquidity, central bank data showed on Tuesday (May 12).

Debts, owed by companies to banks, reached 929.2 trillion won as of the end of April, up 27.9 trillion won from a month earlier, according to the Bank of Korea .

The rapid growth came as companies rushed to secure short-term liquidity to brace for the economic fallout from the Covid-19 outbreak across the world.

 

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