Private Lending Slows in Guatemala

Credit to the private sector grew by 11.2% in January, a lower growth than for the same period last year when the increase was 26.4%.

Monday, March 2, 2009

Reporter Jessica Gramajo wrote in the SigloXXI website: "Data from the Bank of Guatemala (Banguat) reported that in January of this year the banking system maintained a loan portfolio of $10.901 million (Q 87.240,8 million). Although it is higher than the $9.816 million (Q78.559,4 million) during the same month in 2008, the growth rate was lower."

More on this topic

Guatemala: Slow Growth in Credit to the Private Sector

April 2018

For this year, growth in banking credit to the private sector is projected at between 6% and 9%, but the year-on-year increase registered up to March was only 4%.

Figures from Banco de Guatemala show that during the year 2017 credit to the private sector grew at a monthly average of 5.17%, and the lowest increases were reported in November and December when the amount increased compared to the same months of 2016 by 4.9% and 3.8% respectively.

Credit for Private Sector Drops to 8.3% in Guatemala

April 2009

Up to and including April 9, the total growth (including loans in local and foreign currency) was 8.3%, the lowest in the last two years.

Despite measures taken by monetary authorities to keep the money market liquid in order to stimulate credit, financing to companies has not reactivated. Directors of the Industrial Bank and G&T Continental state that they are receiving up to 20% fewer loan requests.

$25 Million for G&T Continental Bank

April 2009

The IFC announced the addition of the Bank to the Global Foreign Trade Finance Program (GTFP).

The objective of the International Finance Corporation is to support local banks in promoting trade within their respective countries.

The manager of the international area of G&T Continental Bank, Sergio Bocanegra, told Siglo XXI: "The amount could rise to $50 million within 6 months.

$500 Million Loan for Guatemalan Banks Analyzed

March 2009

In order to support liquidity, the government is analyzing whether to accept a $500 million line of credit from the IDB.

The Superintendent of Guatemalan Banks, Edgar Barquín, said that the purpose of this instrument would be to compensate for the likely loss of foreign credit lines.

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