Nicaragua : Bank Deposits Grow by 18%

Between March last year and the same month in 2014, total deposits in the domestic financial system went from $3.431 billion to $4.185 billion.

Tuesday, May 27, 2014

More deposits by households, businesses and government boosted growth of deposits by 2.3 % in March compared to the previous month. The dynamism was recorded in overnight deposits, which grew 35.5 %, while fixed term deposits and savings deposits grew 20.5 % and 5.8 % , respectively, according to the Monetary and Financial Code and the Central Bank of Nicaragua (BCN).

"In March 2014, the gross loan portfolio showed a growth of 20.9 percent. Meanwhile, total deposits recorded a growth of 18.0 percent, explained in particular by the recovery of deposits in national currency (20.3%) and by the dynamism of deposits denominated in foreign currency (17.2%)."

"The biggest deposits in local currency and the increased liquidity of the SFN were related in part to the payment of bonds of the Republic of Nicaragua. Finally, profitability indicators remain on a positive trend, associated in part with the improved quality of the loan portfolio."

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