The volume of operations totaled $3.377 billion in the last quarter of last year, registering an increase of 1% compared to the same period in 2016.
In the last three months of 2017, operations made by financial and exchange entities with the public totaled $3.315 billion, reflecting an interannual increase of 3%.Operations by the Government, banks and financial institutions with the Central Bank, through the Exchange Desk, totaled $62 million.
Due to an increase in commercial credit and personal loans, the gross portfolio totaled $5.480 billion up to November 2017, 15% more than in the same month in 2016.
According to a Report on the Performance of the National Financial System, published by the Central Bank of Nicaragua in November 2017, the financial system increased its financial assets by 16%, while the credit portfolio grew by 15%, both in year-on-year terms.
Up to October 2017, commercial loans and personal loans reported a 10% YoY growth, respectively, while bank deposits grew 9%.
From a report by the Central Bank of Nicaragua:
The Report indicates that the indicators of the National Financial System (SFN by its initials in Spanish) show dynamism in intermediation, with adequate risk management and good indicators on profitability, solvency and capital.
Between January and November, transactions on the Stock Exchange totaled $1.562 billion, accumulating an 11% growth compared to the same period in 2016.
Gerardo Argüello, general manager of the National Securities Exchange (BVN), told Elnuevodiario.com.ni that "... growth in the stock market is widespread, but he admits that the issues by the Central Bank of Nicaragua and the public sector have encouraged thisdynamism in the stock market."
With a loan from OPEC, the second phase of the rural electrification project on the Caribbean coast will be financed.
The decree must still be approved by the National Assembly, which will receive it in the coming days.The loan was agreed between the Ortega administration and the Organization of Petroleum Exporting Countries.
Up to the third quarter of this year, microfinance institutions had granted $492 million in loans, 15% more than in the same period in 2016.
The microfinance sector has been growing steadily in recent years, after having experienced a crisis between 2008 and 2011 caused by 'NO PAGO' (NO PAYMENT) movement.
Figures from the Nicaraguan Association of Microfinance Institutions (Asomif) show that at the beginning of this year there were 26 organizations dedicated to granting microcredits, while at the end of September there were 28 companies registered.
As of September, credit granted by the financial system registered a year-on-year increase of 16%, driven by commercial credit and personal loans, which grew by 14% and 15%, respectively.
From a financial report by the Central Bank:
The financial system remains stable as of September. The loan portfolio grew by 15.6 percent year-on-year.The risk indicators continue below the average for the region and the liquidity of the system was above 31 percent. In relation to deposits,an interannual growth of 8.7 percentwasobserved (10.9% in September 2016).Finally, the indicators on profitability, solvency and capital have been found to be stable throughout the year.
The Honduran Banco Atlántida has received authorization to operate in the Nicaraguan financial market.
As of November 15, the Honduran bank will have 180 days to comply with the requirements in the law for banks and financial institutions.
"...Through a resolution published in La Gaceta on November 15, the board of directors of the Siboif made official the authorization for the constitution of a banking corporation under the name: `Banco Atlántida de Nicaragua S.A. or simply Banco Atlántida Nicaragua or Banco Atlántida'."
Among the activities susceptible to laundering are sales of gold and vehicles, the purchase and sale of real estate and electronic money transfers.
From a report entitled "Mutual Evaluation of Nicaragua October 2017", by the Financial Action Group of Latin America (Gafilat):
Key findings
Nicaragua has legal and regulatory provisions, as well as an institutional framework allowing combating, at a certain level, Money Laundering (ML) and Terrorist Financing (TF). The current legal framework in force has some deficiencies that limit the general system effectiveness.
The Ortega administration has announced that with a loan of $238 million from the BCIE, some 194 kilometers of road sections will be renovated in different areas of the country.
Vice-president Rosario Murillo stated that the project " ... which will be carried out starting from next year, includes construction of 194 kilometers in hydraulic concrete and paving stones in six stretches of roads distributed throughout the country."
The Latin American Bank for Foreign Trade has granted Dos Pinos a syndicated loan of $100 million over five years, for three of the companies belonging to the cooperative.
The loan to Cooperativa de Leche Dos Pinos was structured as a "Club Deal" between Bladex, Banco General, S.A. and Banistmo, S.A., who acted as co-structurers.Bladex also serves as the Administrative Agent at the facility.
The 16% year-on-year growth registered in July in Nicaragua's banking credit portfolio is mainly due to an increase in loans for consumption and industrial activity.
From a report by the Central Bank of Nicaragua:
On September 8, 2017, the Central Bank of Nicaragua (BCN) published its Financial Report for the month of July of this year.
The volume of operations in the exchange market totaled $973 million in July 2017, a decrease of 6% compared to the same month in 2016.
From a statement issued by the Central Bank:
The Central Bank of Nicaragua (BCN) published on September 1, 2017 the Statistical Report on the Exchange Market, corresponding to July of this year.
The volume of operations in the foreign exchange market totaled 972.6 million dollars (purchases: US $497.6 and sales US $475.0 million) during the month of July 2017 (daily average of US $38.9 million), showing a decrease of 6.0 percent, in relation to the same month of the previous year. This behavior was explained by a reduction in the volume of operations made by the BCN exchange desk with banks and financial institutions, followed by exchange offices with the public.
The loan approved by the Nicaraguan Assembly complements the financing needed to expand the Juan Pablo II highway, whose total investment is $275 million.
The loan approved by the Nicaraguan Assembly complements the financing needed to expand the Juan Pablo II highway, whose total investment is $275 million.
From a statement from the National Assembly of Nicaragua:
Panama and Nicaragua are among the ten countries in Latin America with the highest risk of money laundering, according to the Basel Institute of Governance.
The anti-money laundering index (AML) prepared by the Basel Institute of Governance places Panama in fourth place in the list of countries with the highest risk of money laundering and financing of terrorist activities in Latin America and the Caribbean.