Private Sector Credit Increases 5%

Mortgage and personal loans continue to determine a significant part of the 5% increase in domestic credit to the private sector, recorded between July 2017 and the same month in 2018.

Friday, October 12, 2018

More recent data from the Superintendence of Banks, up to the seventh month of the year the credit portfolio of the private sector reached $52,607 million, which is equivalent to an increase of 5.4% with respect to the $49,921 million reported up to July 2017.


The residential mortgage loan continued showing signs of increase as at the end of July 2018 continues to be one of the financing with higher demand and shows an increase of 6.7%. The balance of mortgage loans granted reached US$16.548 million, an increase of US$1.034 million with respect to the same period in 2017.

The consumer credit portfolio (for individuals) maintains a continuous growth rate, showing an increase of 8.9%, thus reflecting that people are daily willing to meet their commitments, to require this type of credit. One of the segments showing an increase, oriented to car credit, which grew 2.5% in July 2018 compared to July 2017, it should be noted that car loans are being granted by the official bank, although in lesser amount, also giving the bank customer the possibility of obtaining this type of credit. Similarly, loans granted by credit card also showed significant figures to have growth of 9.5%.

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