Limiting the fees charged in Costa Rica and establishing a law that defines market limits in Guatemala are part of the attempts being made in the region to regulate the use of credit cards.
A law proposal presented last January before the Legislative Assembly of Costa Rica, aims to regulate the percentage of the commission paid by businesses for credit or debit cards.
As of June of this year, banks in El Salvador granted $6,121 million in loans to companies, registering an increase of almost 6% compared to the first half of 2017.
Figures from the Superintendency of the Financial System (SSF) indicate that out of every $100 in credits approved in June by banks in El Salvador, $45 was used to finance companies.
As of December 2017, the balance of the loan portfolio for private companies amounted to $5.926 billion, 5% more than in the same month in 2016.
According to figures from the Superintendency of the Financial System, the balance of loans for companies grew by $306 million, increasing from $5.620 billion in December 2016 to $5.926 billion in the last month of 2017.
In December 2016 the balance of the portfolio of loans granted by the financial system to private companies amounted to $5.63 billion, 7% more than in the same month in 2015.
From a report by the Superintendent of Financial System of El Salvador:
The Financial System Superintendency recorded in banks, cooperative banks and savings and credit societies (SAC) growth of 5.5% in loans granted, compared to December 2015, with this amount representing USD 12,409.5 million.
The World Trade Report 2013 focuses on trade as cause and effect of the change, and examines the factors shaping the future of global trade.
The world is changing extremely rapidly under the influence of many factors, among which are changing patterns in production and consumption, constant technological innovation, new forms of trade and obviously political policy.
The Inter-American Development Bank will provide $153 million to a new capital investment platform for Latin America and the Caribbean, in partnership with the Export-Import Bank of China.
A statement from the Inter-American Development Bank (IDB) reads:
IDB approves $153 million in loans to establish an IDB and China Eximbank capital investment platform
The financial institution, with a portfolio of consumer loans of $869 million, is the market leader in El Salvador.
As of June 2012, with a portfolio of more than $2.523 million, the balance of consumer banking was $869 million, commercial loans $1,112.7 million, housing $415.9 million and credit cards $108 million, said Juan Carlos Angulo, product manager at the bank.
A study by a Salvadoran consumer rights organization found that most store cards charge annual interest rates of between 36% and 91%.
El Salvador's Credit Card Law, approved last November by the Legislative Assembly, regulates transactions made using credit cards. However, cards offered by shops and stores that use a contract as confirmation of the agreement fall outside this law.
Banks credit intermediation and its influence in the generation of goods and services on behalf of the productive system.
In a SECMCA report, Nelson Oswaldo Ramirez presents a brief analysis of the development of banking credit in comparison with the region's economic activity in the first five months of the year. In the way he studies relationships that may exist between the variables of Credit and GDP.
It is indispensable for the economy to continue using credit to finance production and commercial operations.
The analysis by Raul Moreira published in the La Estrella in Panama emphasizes that "the demand for internal credit by the private sector was at $31.6 billion in October and continued to grow at 20.38%, while deposits had an increase of 24.69%, which shows that the main source of financing for the expansion of credit comes from domestic savings by individuals. Prudence and caution is recommended for credit policies and it is important to maintain the rhythm of capturing funding."
Despite the tough situation in the country, banking credit grew 9.5% at the end of June 2008.
According to the latest ranking done by the Salvadoran Bank Association (Abansa), the total credit portfolio in June of 2007 was at $8.43 billion, but the bounce in economic activity allowed the portfolio to rise to $9.23 billion at the end of the first six months of this year.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...