Andina

Peru: Credit to private sector up 8.3% in 2018

10:08 | Lima, Jan. 28

Showing a higher rate than that recorded in 2017 (6.7%), total credit to the private sector —which includes the loans made by banks, municipal-rural savings banks, cooperatives, and local banks' branches abroad— grew 8.3% in 2018, Central Reserve Bank (BCR) has reported.

As a percentage of GDP, the balance of credit to the private sector represented 41.5% in 2018 (41.1% in 2017).

By currencies, credit growth pace in Soles increased from 5.3% in 2017 to 11.3% in 2018, while the pace of credit growth in Dollar increased 1.5% last year.

By segments, the growth rate of credit to businesses increased from 5.5% in 2017 to 6.7% in 2018, driven by the greater growth of loans to the corporate sector and large companies —whose pace of growth increased from 6.2% to 8.8%— as well as by greater loans to medium-sized companies, whose annual growth rate increased to 3.8% from 0.6% in 2017.

Moreover, the growth rate of credit to households increased from 8.6% in 2017 to 11% in 2018, the rate of consumer loans rising from 8.8% in 2017 to 12.5% in 2018 while the rate of mortgage loans increased from 8.5% in 2017 to 8.8% in 2018.

(END) MVB

Published: 1/28/2019
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