Excess funds held by Korean households and non-profit institutions rose from a year earlier in 2015 backed by a rise in their income, central bank data showed Thursday.

Excess funds held by households and non-profit institutions came to 99.2 trillion won ($86.5 billion) at the end of last year, up 5.7 trillion won from the previous year, according to preliminary data from the Bank of Korea (BOK).

"Excess funds of households and non-profit institutions expanded from the previous year mostly on a rise in their income," the central bank said in a press release.

Non-profit institutions refer to non-profit organizations serving households, such as consumer groups, charity and relief organizations, religious groups and labor unions.

Excess funds held by the government gained 3.3 trillion won to 22.3 trillion won over the cited period.

Non-financial companies, on the other hand, continued to suffer from a shortage of funds, though the additional amount in need was more than halved to 15 trillion won in 2015 from 30.5 trillion won the previous year, according to the BOK.

Meanwhile, the central bank said total financial assets in the country gained 7.7 percent on-year to some 1,460 trillion won as of end-2015.

Out of the total, assets held in cash and deposits increased 7.9 percent on-year to 2,788 trillion won.

Total loans grew at a faster rate of 9 percent to 2,553 trillion won, apparently aided by a steep rise in household debts last year.

As of the end of 2015, household credit reached a record high of 1,207 trillion won, jumping 11.2 percent from the previous year, the BOK said earlier. (Yonhap)