Credit to the private sector –which includes loans granted by banks, finance companies, municipal/rural savings banks, and cooperatives— accelerated from 6.7% year-on-year in February to 7.3% in March, thereby registering seven months of consecutive expansion, the Central Reserve Bank (BCR) reported on Friday.
In monthly terms, credit rose by 1.3% in March due to the dynamism of loans granted to individuals (2.4% monthly) and companies (0.7% monthly).
There was a year-on-year acceleration of loans to individuals from 9% in February to 11.7% in March.
On the other hand, there was a slowdown in loans to companies from 5.5% to 4.9% in the same period.
Currencies
Credit in Peruvian Soles registered a monthly growth of 1% in March. In U.S. dollars, it increased 2.6% during the same month.
The year-on-year rate of expansion of credit in Soles rose from 7.5% to 7.6% between February and March, and the growth rate of credit in U.S. dollars climbed from 3.8% in February to 5.9% in March.