Peru's private sector credit in soles grew at annual rate of 14.1% in July this year, according to a report by the country's central bank BCRP.
The BCR said this positive growth was mainly driven by a strong growth of credit in domestic and foreign currencies.
Depository institutions’ total credit to the private sector –including the loans placed by the branch offices of local banks in other countries– increased 0.6 percent in July (S/. 1.31 billion), as a result of which the annual growth rate of credit to the private sector stood at 14.1 percent in July.
Credit to businesses grew 0.9 percent in the month, with the increase observed in the segments of corporate credit and credit to large enterprises standing out, while credit to individuals grew 0.1 percent.
In the segment of personal credit, mortgage loans grew 0.4 percent whereas consumer
loans declined 0.2 percent in the month.
Credit in soles grew 0.5 percent in the month (S/. 670 million) and 20.7 percent in the last twelve months, while credit in dollars grew 0.8 percent (US$ 229 million) and thus accumulated an annual growth rate of 5.3 percent.
(END) JJN/DLG
Published: 8/23/2014