Consumer Loans Boost Portfolio

At the end of June in Guatemala, credit to the private sector registered a 7% year-on-year growth, which is explained by the upturn in mortgage and consumer loans.

Tuesday, July 2, 2019

Figures published by representatives of the Banco de Guatemala specify that at the end of the first semester of the year, the total credit to the private sector reached $26.571 million, amount that is 6.9% higher than that reported a year ago.

Sergio Recinos, president of the Bank of Guatemala, told Elperiodico.com.gt that "... credit to the private sector has recovered, consumer loans are the ones with the greatest upturn, as mortgages.”

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The article adds that "... According to statistics published by the central bank, mortgage credit has a 14.6 percent increase, followed by microcredit with 8.4 percent and lower business with 5.3 percent. Up to June 20, credit in dollars had a 4.7 percent growth, while loans in national currency increased 8.2 percent."

After the International Monetary Fund's last visit to the country, the agency said the financial system is healthy and there is room for further modernization. Banks are sufficiently capitalized and liquid, while delinquencies remain low. The authorities must continue their efforts to align the financial sector with Basel III standards. Initiatives that merit support include the draft laws on banks and financial groups, ML/FT, the securities market and electronic money.

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More on this topic

Guatemala: Credit to the Private Sector Up 7%

May 2019

The rise in microcredits, consumer loans and the construction sector contributed to the 7% year-on-year increase reported in April 2019.

Data from the Bank of Guatemala show that between April 2018 and the same month of 2019, credit to the private sector in the country increased from $24.687 million to $26.534 million, which is equivalent to a 7.4% increase.

Private Sector Credit Grows 5% up to Ist Semester 2018

September 2018

Mortgage and personal loans continue to be responsible for much of the 5% increase in domestic credit to the private sector, recorded between June 2017 and the same month in 2018.

According to the latest report by the Superintendency of Banks, in the sixth month of the year the credit portfolio of the private sector totaled $52.311 billion, which is equivalent to an increase of 5.4% compared to the $49.609 billion reported as of June 2017.

Credit to the Private Sector Rebounds

August 2018

Up to July 2018, credit granted by Guatemalan banks to the private sector totaled $26.06 billion, 4.5% more than was reported in the same month in 2017.

The most recent data from Banco de Guatemala shows that credit to the private sector in the seventh month of 2018 grew by 4.5% compared to the same month in 2017, rising from $24.611 billion to $24.942 billion. This increase was below the increase of 5.3% registered between July 2016 and 2017. 

Bank Credit Up 4%

June 2018

Up to May 2018, credit granted by Guatemalan banks to the private sector totaled $25.725 billion, 4% more than was reported in the same month in 2017.

According to figures from Banco de Guatemala, credit to the private sector up to May 2018 grew by 4.1% compared to the same month in 2017, rising from $24.611 billion to $25.725 billion. This increase was below the 8% increase recorded between the same months of 2016 and 2017. 

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