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Peru: Credit to private sector up 8.7% in August 2018

10:27 | Lima, Sep. 21.

Total credit to the private sector expanded 8.7% in August 2018, showing a slight rise from the previous month (8.6%), Central Reserve Bank (BCR) informed Friday.

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

According to BCR, Peruvian Sol-denominated loans continued to rise for the ninth consecutive month, posting an annual expansion of 9.6% in August, while U.S. dollar credits grew 6.5%.

By borrower type, loans to natural persons rose from 11% in July to 11.3% in August.

The consumer credit sector was the most dynamic, growing at an annual rate of 12.5% in the analyzed month, whereas mortgage lending increased 9.6%.

Loans to firms saw a slight decrease from 7.2% (July) to 7.1% (August), due to lower credits to the corporate sector as well as micro and small-scale enterprises.

On the contrary, loans to medium-sized enterprises expanded at a faster rate (2%) compared to the previous month (1.8%).

(END) ECS/JJN/RMB/MVB

Published: 9/21/2018
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