Seoul: The delinquency rate on loans extended by local banks increased for the second consecutive month in November, data showed Wednesday. The delinquency rate on banks' won-denominated loans reached 0.60 percent in November, reflecting a rise of 0.02 percentage point from the previous month.

According to Yonhap News Agency, the amount of newly delinquent loans amounted to 2.6 trillion won (US$1.79 billion) in November, marking a decrease of 0.3 trillion won from the previous month. In contrast, the amount of write-offs of bad loans rose to 1.9 trillion won during the month, an increase of 0.6 trillion won over the cited period.

The data also revealed that the delinquency rate on corporate loans stood at 0.73 percent in November, which is up 0.04 percentage point from the previous month. Similarly, the rate on household loans increased by 0.02 percentage point, reaching 0.44 percent over the cited period, as reported by the Financial Supervisory Service (FSS).