, Korea

Lending of South Korean banks need improved supervision

Board of Audit and Inspection says some lenders failed to pass on interest rate cuts to customers during the 2008-09 crisis.

OCBC Treasury Research noted:

Vice Finance Minister Shin has indicated concerns over the prospect of domestic consumption growth going forward.

Meanwhile, Board of Audit and Inspection indicated that some local banks failed to pass on interest rate cuts to the customers during the 2008-09 crisis, and went on to advise the FSS to improve supervision on banks’ lending.

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