Nicaragua: Less Credit Cards Issued

In the first six months of the year, figures show 32,738 less credit card holders.

Tuesday, August 10, 2010

The head of the Nicaraguan banking regulator, Víctor Urcuyo, indicated that between June 2009 and June 2010, the number of plastic card customers has dropped from 216,369 to 183,631.

Urcuyo added that, "this is due to the regulator's new plastic card standard, now 90 days old, which forces banks to be more responsible. However, clearly people will continue to request credit cards because everyone has the occasional emergency," reports El Nuevo Diario.

More on this topic

Nicaragua: New Regulations Will Reduce Credit Cards in 20%

June 2010

Experts estimate that financial companies will issue 20% less credit cards when the new regulations come into force.

This was confirmed by Banking Superintendent Víctor Urcuyo , who explained that the more restrictive regulations will exclude many individuals from making the cut for a credit card.

Guatemala's credit card debt at 2.37 billion quetzals

June 2008

The Superintendent of Banks in Guatemala reports that credit card debt is growing in the nation despite disturbing economic signals and now stands at 2.367 billion quetzals, or about 315 million dollars.

It said that despite high interest rates and a threatening crisis, the use of credit cards is concentrated in purchases at supermarkets, restaurants and gas stations.

$1.1 billion in credit card transactions in Honduras

January 2009

With a total of 600,000 card holders, credit cards are one of the financial products that has experienced the most growth.

Heraldo.hn reports: "Maria Lidya Solano, executive director of the Honduran Association of Banking Institution (Ahiba), revealed yesterday that the balance of the personal banking portfolio - credit cards - totaled $1.1 billion (21.2 billion lempiras) on August 31, 2008.

Reduced Credit Card Debtors in Nicaragua

March 2011

As of December 2010, debtors totaled 257.970, 17.4% less than the 312.158 existing in December 2009.

The Chairman of the parliament´s Production, Economy and Budget Committee, Wálmaro Gutiérrez, attributes the decline to May´s entering into effect of the new credit card governing regulation.

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