Business · Companies · 1 hr ago
IBK's long-overdue small-business loans rise sixfold in three years
Small businesses with IBK loans owed 567.8 billion won overdue for at least a year at the end of July.
IBK is a South Korean bank that lends to small and medium-sized businesses.
The long-overdue amount was about six times higher than at the end of 2022, a rise over three years and seven months.
The number of businesses behind on these loans for at least a year also climbed, from 237 to 1,908.
All overdue small-business loans at IBK reached 2.959 trillion won by the end of July, after rising by nearly 500 billion won since the start of the year.
The figures show a sharp increase in late repayments among businesses borrowing from the bank.
No next steps were specified.
IBK’s small-business loans overdue for at least a year reached 567.8 billion won at the end of July.
That amount was about six times higher than at the end of 2022, a rise over three years and seven months.
The number of businesses with loans overdue for at least a year rose from 237 to 1,908.
IBK’s total overdue small-business loans stood at 2.959 trillion won at the end of July.
The total had increased by nearly 500 billion won since the start of the year.
- Who
- IBK and the small businesses that borrowed from it.
- What
- Loans overdue for at least a year reached 567.8 billion won, about six times the amount at the end of 2022.
- When
- At the end of July; the comparison period began at the end of 2022.
- Where
- IBK, a South Korean bank.
- Why
- Not stated
This story does not have two clearly opposing sides.
IBK had 9.42 billion won in small-business loans overdue for at least a year, with 237 businesses in arrears.
The amount overdue for at least a year reached 567.8 billion won, affecting 1,908 businesses.
IBK’s total overdue small-business loans reached 2.959 trillion won.
- Long-term overdue loans
- 567.8 billion won at the end of July
- Increase
- About sixfold since the end of 2022
- Businesses overdue for at least a year
- 1,908 at the end of July
- Total overdue small-business loans
- 2.959 trillion won at the end of July
- Source of figures
- Data submitted by IBK to lawmaker Park Seong-hun’s office