The annual growth rate of credit to the private sector increased to 14.8 percent in June this year, Peru’s Central Reserve Bank (BCR) said Sunday.
The BCR said this positive growth was mainly driven by a strong growth of credit in domestic and foreign currencies.
Total credit of depository institutions to the private sector in Peru, including the loans placed by branch offices of local banks in other countries, increased 1.2 percent in June, as a result of which the annual growth rate of credit to the private sector increased to 14.8 percent.
According to the BCR weekly economic report, credit in soles grew 0.6 percent in June (S/. 714 million) and 22.0 percent in the last twelve months.
On the other hand, credit in dollars grew 2.1 percent (US$ 608 million) and thus accumulated an annual growth rate of 5.4 percent.
In addition, credit to businesses grew 1.2 percent in the month and credit to individuals grew 1.1 percent.
In the case of personal credit, consumer loans registered a monthly growth rate of 1.0 percent, while mortgage loans expanded 1.3 percent in June.
(END) JJN/RMB
Published: 7/27/2014