Banking System Affected by the Crisis

In April, deposits in the Nicaraguan financial system totaled $5.414 billion, registering a 9% increase with respect to the same month in 2017, but below the rate of 11% reported in March of this year.

Thursday, June 28, 2018

The Central Bank of Nicaragua reported that in the fourth month of the year "... deposits in the national financial system amounted to 167,560.8 million córdobas ($5.414 billion), which represented year-on-year growth of 8.7 percent (11.4 percent in Mar-18), representing a deceleration with respect to the month of March 2018."

The report details that " ... By currency, deposits in foreign currency, which represent 74.4 percent of the total, showed year-on-year growth of 7.4 percent (9.5% at March-18). In relation to deposits in the national currency, a growth of 12.6 percent was observed (16.9% in Mar-18). "

"Regarding the structure of deposits, savings accounted for 39.7 percent, followed by demand deposits with 34.0 percent and fixed term deposits with 26.3 percent. Compared to last year, there is a greater relative importance of fixed term deposits, having increased their share by 2.1 percentage points."

See full report (In Spanish).

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In Guatemala the economic activity reported the third month of the year a 2.7% year-on-year growth rate, mainly because of the behavior of the Transportation and Manufacturing Industries sector.

The 2.7% increase in economic activity reported by the Banco de Guatemala in the third month of the year, represents an acceleration since in February 2019 the variation was only 1.9%.

Nicaragua: Formal Employment Keeps Falling

April 2019

In accordance with the decreases reported last year, in February 2019 there were 755,908 social security workers, 17% less than in the same month of 2018.

The reduction in the number of workers registered with the Nicaraguan Institute of Social Security (INSS) is caused by the behavior of the employment level in the activities of commerce, construction, finance and transport, storage and communications, reported the Central Bank of Nicaragua (BCN).

Bank Deposits Down 19%

September 2018

In Nicaragua, between the end of March and the beginning of September, deposits in the banking sector fell by 19%, affected by the socio-political crisis in the country.

According to the most recent data from the Central Bank of Nicaragua (BCN), deposits in foreign currency up to September 6 totaled $3.31 billion, less than the $3.34 billion counted at the end of August. In the case of deposits in córdobas, they reported a slight increase in the periods in question, rising from 35,326 million to 35,595 million.  

Nicaragua: Bank Credit Up 14%

December 2017

Up to October 2017, commercial loans and personal loans reported a 10% YoY growth, respectively, while bank deposits grew 9%.

From a report by the Central Bank of Nicaragua:

The Report indicates that the indicators of the National Financial System (SFN by its initials in Spanish) show dynamism in intermediation, with adequate risk management and good indicators on profitability, solvency and capital.

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