ID :
19143
Fri, 09/12/2008 - 11:39
Auther :
Shortlink :
http://m.oananews.org//node/19143
The shortlink copeid
Bank deposits gain 6.6 pct in first half
SEOUL, Sept. 11 (Yonhap) -- Deposits at banks in South Korea increased 6.6 percent in the first half from the previous six months as banks offered high interest rates to customers amid the local stock market's bearish run, the central bank said Thursday.
As of the end of June, outstanding bank deposits amounted to 1,086.3 trillion won
(US$983.5 billion), up 66.8 trillion won from the end of last year, according to
the Bank of Korea.
In particular, time deposits increased 38.6 trillion won in the first half, a
turn around from a 1.5 trillion won decrease in the second half of last year.
Local banks provided higher interest on time deposits in a bid to raise funds.
Last year, customers shifted more money to accounts held by brokerages and stock
investment funds amid the market's bull run, which forced banks to offer high
interest rates on deposits.
As of the end of June, outstanding bank deposits amounted to 1,086.3 trillion won
(US$983.5 billion), up 66.8 trillion won from the end of last year, according to
the Bank of Korea.
In particular, time deposits increased 38.6 trillion won in the first half, a
turn around from a 1.5 trillion won decrease in the second half of last year.
Local banks provided higher interest on time deposits in a bid to raise funds.
Last year, customers shifted more money to accounts held by brokerages and stock
investment funds amid the market's bull run, which forced banks to offer high
interest rates on deposits.
