The Peruvian banking sector, one of the most important in Latin America, is "completely solid" and ready to support the country's growth, Peruvian Bank Association (Asbanc) Chairman Oscar Rivera affirmed on Friday.
The association's head indicated the necessary funding has been provided to meet the country's credit demand, in accordance with economic growth estimates, so he ruled out a risk of systemic cessation of payments.
"The banking sector in general has prepared the necessary ground for development, preventing what might come, and we are at full economic capacity to support growth," he underlined after commenting on the situation facing business sector due to recent corruption cases involving some builders.
Like every Peruvian citizen, banking sector's agents keep track of situations arising in the country as illicit acts come to light.
According to Rivera, the Peruvian banking sector has the necessary experience and capability to take essential preventive actions to continue supporting the country's development.
Loan balance increases
The fact that total loans granted by banks amounted to S/232.6 billion (about US$ 70.5 billion) in late February this year proves that necessary measures are being taken and that national economy is not at risk.
This sum meant an annual growth of 3.62% and was explained by increased loans, both in domestic (S/) and foreign (US$) currency. In this sense, Rivera reiterated the financial system has enough liquidity to tackle any eventuality.
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Published: 3/10/2017