Business loans of less than $ 640,000 pay considerably more, between 11.3% and 34.4%.
The information comes from the monthly report generated by the Bank Superintendence of Guatemala, which for the first time includes interest rate information filtered by credit portfolio, economic activity, type of credit and rank.
The report suggests that BAC charges the lowest rate on loans over $ 640.000 (8.00%), followed by G & T Continental (8.19%) and Industrial Bank (8.26%).
For loans of less than $ 640.000 the lowest rates are offered by Industrial Bank (10.39%), followed by BAC (10.71%) and Reformador Bank with (11.31%).
In foreign currency the best rates for loans of more than $ 640.000 are offered by Industrial Bank (6.27%), BAC (6.46%) and Agromercantil (6.63%).
For loans of less than $ 640.000 in foreign currency, BAC has the lowest interest rate with (8%), followed by Rural Development Bank (8.10%) and Industrial Bank (8.34%).
Fitch Ratings notes that the Guatemalan banking system reports one of the lowest rates of delinquency in the region.
From the report 'Panorama of Guatemalan Banks' by Fitch Ratings:
Local Majority Banking System: The largest banks (70% of loans in the system) belong to local shareholders. At the same time, foreign-owned banks increased their share after Bancolombia acquired the controlling stake in Banco Agromercantil de Guatemala, S.A. (BAM).
To date, about 8 banks in Guatemala, 4 in El Salvador and 3 in Honduras, Nicaragua and Costa Rica offer the service; there is still much ground to cover in the region.
The director of Technology at the company Ebclosión, Derick Brol, indicates that in Central America in 2011 there were mobile phone banking services in about 8 banks in Guatemala, 4 in El Salvador and 3 in Honduras, Nicaragua and Costa Rica.
Credit to the private sector grew by 11.2% in January, a lower growth than for the same period last year when the increase was 26.4%.
Reporter Jessica Gramajo wrote in the SigloXXI website: "Data from the Bank of Guatemala (Banguat) reported that in January of this year the banking system maintained a loan portfolio of $10.901 million (Q 87.240,8 million).
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