Guatemalan Banks make it tougher to get credit

The president of the Bank of Guatemala has warned about the situation of the banks in country, which have exhausted their credit expansion capability.

Wednesday, August 6, 2008


This comes after two years during which their portfolios grew more by than 30%. "They need to be capitalized," Antonieta de Bonilla was reported as saying.
The Guatemalan economy is going through a slowdown as a result of the decrease in general consumer spending mainly due to the increase in the rate of inflation which by midyear had reached 7.54%. Even though the Bank of Guatemala decided to raise the interest rate to 7.25% as a corrective measure, this on the other hand represents further restrictions on consumer spending.

More on this topic

Banco G & T El Salvador has $270 million for Loans

February 2012

The bank is planning to grant loans this year worth $270 million.

Last year it approved $210 million worth of loans to productive sectors such as industry, trade, services, agriculture and construction, an increase of 49% compared to 2010, said the General Manager of the institution, Roberto Silva Alvarez.

Private Sector Credit Still Growing in Guatemala

December 2011

Between November 2010 and November 2011 loan grants have risen by 14%.

The boom being seen in Guatemala’s economy is one of the main reasons explaining the rise in private sector credit, a key indicator of the state of an economy.

In Guatemala’s case, loans granted by financial entities have grown by 14% this year, driven not only by economic growth but also by the interest rate structure which favors debtors.

Credit Continues to Drop in Guatemala

June 2009

June shows 12-month growth in credit at 6.7%, below the 11.7% it had at the beginning of this year.

According to the president of the Chamber of Industry of Guatemala, Thomas Dougherty, uncertainty about the international economy and contingency plans brought about by companies are a few of the causes for the decrease in requests for lines of credit.

El Salvador: Financial Companies Request International Funds

August 2009

Financial companies members of ASIFBAN are demanding the government more access to international financial resources.

Nelson Alvarado is the President of the Salvadoran Association of Financial Intermediaries, also known as ASIFBAN. He stated that his union is undertaking several measures to obtain more financial resources...

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