SEOUL (Xinhua) -- The growth of South Korean bank loans to companies slowed in May after hitting a three-month high in April, the central bank of South Korea said Wednesday.

According to the Bank of Korea (BOK), outstanding bank loans to large and smaller firms amounted to 430.4 trillion won (418.9 billion U.S. dollars) as of the end of May, up 5.9 trillion won from the previous month.
“Loans to larger firms rose moderately in May as there was high demand for such loans to finance mergers and acquisitions until April this year,” said Lee Dae-gun, a BOK official, adding that Kumho-Asiana Group bought Korea Express Co., the country’s biggest logistics company for 4.1 trillion won in March.
Lending to larger companies increased 82 billion won to 46.9 trillion while lending to smaller companies gained by 5.81 trillion won to 383.6 trillion won, the BOK added.