The growth of household loans decreased to the four trillion won range for the first time in five months due to the banks' move to tighten household lending.

According to the financial industry on Sunday, the total household loan balance across the financial sector increased by more than four trillion won in November from a month earlier, with the growth slowing to the four trillion-won range for the first time in five months since June.

The figure soared to nine-point-eight trillion won in August and slowed to five-point-two trillion won in September and six-point-six trillion won in October.

The data may change if the numbers for the last few days of November are included in the final data.

The growth of household loans extended by first-tier banks halved in November from three-point-nine trillion won in October, while the figure for second-tier banks for November was similar to the previous month's two-point-seven trillion won.

Second-tier banks' household loan growth rates surpassed those of first-tier banks for the first time in 27 months, since August 2022.