In the countries of the region, more than 8 million people are looking for credit on the Internet. Of this group of consumers, approximately 9% explore options for taking out a student loan.
The interactive information system developed by CentralAmericaData monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.
The Executive and the banking sector agreed to extend until December 31st of this year the moratorium on credit payments, a measure that applies to mortgages, personal loans, the agricultural sector, commercial, transportation, auto and credit cards.
The government also reported that in the context of the covid-19 outbreak, President Cortizo sanctioned Bill 295 which adopts special social measures for the temporary suspension of payment of public services such as electricity, fixed and mobile telephony and Internet.
At the end of last year, the credit portfolio destined for consumption through cards in Guatemala totaled $1.464 million, 12% more than the figure reported at the end of 2017.
Data from the Superintendence of Banks (SIB) specify that in 2018 loans with credit cards represented 6% of the overall portfolio, which totaled $23.782 million.
Regarding the behavior of credit at a general level, Elperiodico.com.gt reports that "...
After 14 appeals filed, the Guatemalan Constitutional Court declared unconstitutional the law that attempted to regulate the credit card market in the country.
The Credit Card Law became effective on March 8th, 2016, however, after the business chambers, card issuers and the Bank of Guatemala filed legal appeals before the Constitutional Court (CC), it was provisionally suspended on March 31st of the same year.
Although equivalent to 85% of GDP, analysts say the portfolio of bank loans to the private sector is at healthy levels and can grow further.
At the end of 2014 bank lending to businesses and households in the country amounted to $46,212.6 million, well above the amount of public sector debt, which closed in 2014 at an amount equivalent to 39.4% of gross domestic product (GDP).
Mortgage loans and loans for the purchase of vehicles, as well as financing through credit cards are the most dynamic categories in the banking system's loan portfolio.
In the period up until January 2015 it was reported that Panamanians owed approximately $25 billion in personal loans. The balances on credit cards and personal loans recorded an increase of 15.6% compared to January 2014.
Private sector loans dropped $31 million in February.
The Central Bank of Nicaragua believes this happens because banks are much more cautions when lending.
An article in La Prensa rports that “most loans ($13 million) went to the agricultural sector, while reductions were recorded in commercial and industrial loans, as well as credit cards”.