South Korean household loans rise despite tighter bank rules

Household loans at the five largest banks increased by more than $2.73 billion as expectations of higher home prices sustained mortgage demand.

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Household loans by major banks rose sharply in July despite tight borrowing regulations, as mortgage and credit loans picked up, financial data showed Sunday. Outstanding household loans at five major lenders -- KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH Nonghyup Bank -- stood at 778.8 trillion won ($5