Credit to the private sector
—which includes loans granted by banks, finance companies, cooperatives, as well as municipal and rural savings banks— grew 4.7% year‐on‐year in May, due to loans associated with the Reactiva Peru program, the Central Reserve Bank (BCR)
Excluding the effect of this program, total credit to the private sector would have fallen 4% year-on-year.
According to the issuing entity, Peruvian Sol-denominated loans increased 8.7% in May, while U.S. dollar-denominated loans decreased 7.9% in the same period.
When grouped by segments, credit to companies
registered an annual growth of 8.3% in May due to a base effect because of disbursements of loans from the Reactiva Peru Program
, which began in May 2020.
On the other hand, loans to individuals fell 1.7% in annual terms, while the monthly growth rate was 0.1% in May, marking the second consecutive month of growth, after two months of declines and no growth.
For their part, mortgage loans registered an annual growth of 6.5%, while consumer credit decreased 7.2%.