Guatemala's hard times spur 24 percent growth in bad debt
Bad debts are growing and a credit boom is losing steam within the Guatemalan banking system, reflecting the nation's economic problems, according to a report by the regulator, the Bank Superintendent's Office.
Friday, July 18, 2008
The banks' bad-debt portfolio rose from 2.1 billion quetzals (US$286 million) on January 1 to 2.77 quetzals (US$374 million) on July 13, an increase of 24 percent. Over the same period, bad debt as a proportion of the total credit portfolio rose from 2.5 percent to 3.1 percent.
El Salvador's banks have had to increase their provision for bad debt by 15.2 percent, according to the latest report from the El Salvador Bankers' Association (ABANSA).
Late loans summed $278 million in January 31, 24% more than the same date of 2009, when they stood at $224 million.
From January 2008 to January 2009, the banking system’s unrecoverable portfolio grew by 36.9%.
As of November 2008 overdue loans in the banking system rose to $264 million, 85% more than in December 2007 when it was at $142 million.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar