, Moody's Investors Service has forecast.
Following a flat first quarter in 2019 due to some seasonality, lending will pick up in the second quarter largely driven by consumer and mortgage lending in Peruvian Soles and —to a lesser extent— by corporate and SMEs loans, as lending rates remain low and financial intermediation continues to expand. Loan to GDP rose to 43.2% in 2018 year-end from 36.6% in 2013.
In addition, "the relatively low interest rates and declining real estate prices will help boost mortgage lending," it concluded.
Editor's note: Based on information provided by Moody's.