2024.11.05
Major Korean Banks Are Showing Contrasting Moves in Their Interest Rates
Major Korean banks are showing contrasting moves in their interest rates following the Bank of Korea's rate cut. While deposit rates have decreased to 3.35-3.55% (down by 0.20-0.25 percentage points), lending rates have increased to 4.160-5.860% (up by 0.280 percentage points) due to regulatory pressure to control household debt. This divergence is expected to temporarily expand banks' interest margins, though these margins are likely to narrow next year with anticipated further rate cuts and slowing loan growth.
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