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%).