During the quarter, the bank set aside $175 million to cover future bad loans.
United Prosperity claims this provides both greater leverage and allows the micro-entrepreneur to develop a credit history with their local bank for future loans.
In that period, the bank set aside $117 million for future bad loans.
In the quarter, it set aside $63 million for future bad loans.
The idea was to reassure foreign investors that Korea had enough money to repay current and future loans.
Bank earnings are generally down, hurt by the need to set aside money for future bad loans.
Russia's cultural agency ordered the country's museums to call off any future loans to Switzerland.
"We're encouraged by the fact that lenders committed some $2.5 billion to future loans in April and May."
A. You've got to be very careful of forgiveness of debt if you want future loans.
It brings the total reserve for future bad loans to $2.3 billion.
