Page 4 - Delinquency Rate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Once a personal trainer for several celebrities, Kim, a man in his mid-30s, plans to shut down his fitness club in Seoul's affluent Gangnam district after being diagnosed with stomach cancer as he struggled to pay back bank loans. “The doctor said the cancer is mainly due to extreme stress,” Kim, who refused to give his full name, said, adding, “My business still has not recovered from the pandemic while I have billions of won to repay after borrowing the money from multiple banks.”

Over the past two years, U.S. consumers have added more than $250 billion to the nation's credit card debt — a total that now stands at nearly $1 trillion.

-- First Quarter Total Loan Origination Volume Grew 142.9% to RMB19.8 billion ---- First Quarter Net Revenue Grew 119.5% to RMB1,122.2 million ---- First Quarter Net Income Grew 93.4% to RMB279.7... | June 8, 2023

As more debtors are falling behind on their bank loan payments, concerns are growing over local banks' financial soundness. It is particularly worrisome that delinquency levels are projected to rise further in the latter half of this year, reflecting the effects of drastically soaring interest rates as well as the hiked amount of loans during the past three years amid pandemic shocks.

New data show that delinquency rates are rising across the U.S. as consumers contend with high inflation, lagging wage growth, and rising interest rates.