Mortgages and personal loans were largely responsible for the increase in domestic credit to the private sector, registered between March 2017 and the same month of 2018.
Monday, June 11, 2018
The most recent figures from the Superintendency of Banks reported that in the third month of the year the private sector's credit portfolio totaled $51.668 billion, which is equivalent to an increase of 6.2% compared to the $48.665 billion reported up to March 2017.
According to the report "... The sectors that are driving this higher growth are associated with personal banking products, especially mortgages (7.3%) and personal loans (10.4%).On the other hand, the increase in interim construction financing shows that to date, disbursements continue to be generated in the commercial construction and development projects of the residential construction market."
"... For the month of March loans granted to the construction sector grew by 4.1% compared to March 2017, the sub-activities that make up this activity are: Interim housing, infrastructure, Interim commercial premises and other constructions.The sector has suffered a slowdown in terms of portfolio growth during the year 2017, however, it has shown signs of improvement in the first quarter of 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.
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.
Mortgage and personal loans accounted for most of the increase in domestic credit to the private sector between February 2017 and the same month in 2018.
According to figures from the Superintendency of Banks, in the second month of the year, the credit portfolio of the private sector totaled $51.487 billion, exceeding by 6.7% the $48.257 billion reported in February 2017.
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.