Total
—which includes the loans made by banks, finance companies, municipal-rural savings banks, and cooperatives— increased 7.7% in April 2019, compared to the same month last year, Central Reserve Bank (BCR) has reported.
According to BCR, Peruvian Sol-denominated loans posted a rise of 10.7% in the fourth month of the year, while U.S. Dollar credits rose 0.4%.
It should be noted credit's lower dynamism to the private sector was due to businesses' greater use of local and international capital market financing. Thus, their need for resources within the financial system was reduced.
Likewise, taking into account the financing to the
private sector by other finance companies and foreign sources,
total credit in the last 12 months is estimated to have expanded 4.8% in March and 6.3% in April.
By borrower type, financing to
people registered an 11.5% annual growth rate in April, which reflected an increase in consumption (13.2%) and mortgage (9%) lending.
Furthermore, loans to firms rose 5.3% in the fourth month of this year, compared to the same period in 2018.
On the other hand, the annual growth of micro- and small-scale enterprises expanded 6.6%.
Moreover, medium-sized enterprises, as well as the corporate sector and large enterprises rose 5.6% and 4.7%, respectively.
(END) CNA/DTK/MVB