Andina

Peru: Credit to private sector up 7% in Jan 2018

Centro Financiero.Foto: ANDINA/Carlos Lezama

Centro Financiero.Foto: ANDINA/Carlos Lezama

19:05 | Lima, Feb. 23.

Total credit to the private sector —which includes loans granted by banks, other financial institutions, as well as municipal and rural saving entities— increased from 6.6% in December 2017 to 7% in January 2018.

According to Central Reserve Bank (BCR), this result was mostly driven by growth in credits to people (+8.8%), as well as to companies (+6.4%).

The financial institution also noted mortgage lending grew at a similar rate to that registered at the end of 2017 (+8.6%).

Likewise, consumer credit climbed from 8.8% (December 2017) to 9% (January 2018).

Loans to the corporate sector and large companies saw a year-on-year growth of 6.4%, while credit to small- and micro-sized enterprises rose 9.7%.

On the other hand, U.S. dollar credits expanded 9.8% in the analyzed month, whereas Peruvian Sol-denominated credits went up 5.9%.

Peru's total bank loans amounted to S/244.613 billion (about US$75.196 billion) in January 2018, up by 5.85% over the same month last year, Peruvian Bank Association (Asbanc) reported.

(END) JJN/JJN/JAA/MVB


Published: 2/23/2018