Seoul, June 12 (IANS) Banks are fast moving to rein in a surge in credit loans as customers have borrowed money to buy stocks, financial sources said on Friday.According to various sources, Hana, Shinhan and other major lenders have tightened criteria and limits on credit loans in the face of pressure from the country’s financial authorities, reports Yonhap news agency.The measure came as household loans extended by banks rose at the fastest pace in nearly two years in May as lending linked to s…
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Seoul, May 10 (IANS) Individuals’ overdraft credit loans at major commercial banks have climbed to their highest level in more than three years as investors seek funds for stock investments amid a bullish market, data showed on Sunday.The balance of personal overdraft loans, so-called “minus accounts,” at South Korea’s five major banks — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — stood at 40.5 trillion won (US$27.64 billion) as of Thursday.Based on month-end figures, it marks the large…