Peru: Credit to private sector up 8.4% in July 2018

12:30 | Lima, Aug. 24.

Total credit to the private sector expanded 8.4% in July 2018 from the same month last year, due to a greater increase in operations with financial entities, Central Reserve Bank (BCR) informed.

This segment includes loans granted by banks, municipal and rural saving entities, as well as other financial institutions.

"The annual growth rate of Peruvian Sol-denominated loans remained unchanged from last month at 9.2%, driven by lending to households, whose annual expansion rate climbed from 12.5% in June to 12.8% in July," the BCR explained.

Similarly, U.S. dollar-denominated credits expanded 6.6% in the analyzed month.

By borrower type, loans to firms rose 6.9%, while credits to natural persons grew from 10.7% (June) to 11% (July).

BCR noted consumer credit increased from 11.6% in June to 12.1% in July and that growth in mortgage lending remained at 9.5%.


Published: 8/24/2018