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