The outstanding balance of revolving credit (minus bank accounts) in the banking sector is approaching 70 trillion won.

At the end of July, the outstanding balance of revolving credit loans at commercial banks stood at 69.7283 trillion won, an increase of 6.0874 trillion won, or 9.6%, compared to the end of last year.

This figure represents the amount actually borrowed and used by borrowers, rather than the limit approved by the banks.

During the same period, the number of accounts increased by a mere 0.5%, but the average loan balance per account grew by 1.18 million won, rising from 13.07 million won to 14.25 million won.

Ninety-five percent of this year's increase in the balance was concentrated between April and July.

While the balance at the end of July marks the largest scale since the end of 2021, the average interest rate has risen by 1.7 percentage points from 3.94% at that time to 5.64% currently.

The Bank of Korea estimated that leveraged investments utilizing other loans, such as credit loans, increased significantly in the second quarter of this year.

*This article was produced with AI audio.