Household loans from five key commercial banks topped 550 trillion won last month. 

According to the banking industry, household loans issued by KB Kookmin Bank, Shinhan, Woori, KEB Hana and NH Bank reached some 552-point-four trillion won as of the end of August. That’s up four-point-six trillion won from July and well above the average growth of two-point-eight trillion won posted in the first seven months of the year. 

An increase in mortgage loans mainly pushed up household loans. Such home-backed loans surged by some two-point-nine trillion won to some 392 trillion won at the end of last month, marking the highest growth in nearly two years.  

The banks' outstanding loans to sole proprietorships expanded two trillion won on-month to some 215 trillion won, posting the largest monthly gain in five months.

The key lenders’ credit loans climbed 909 billion won to 103-and-a-half trillion won.