Credit to the private sector —which includes loans granted by banks, finance companies, cooperatives, as well as municipal and rural savings banks— grew 9.3% year‐on‐year in April, mainly due to loans associated with the Reactiva Peru program, the
Central Reserve Bank (BCR) has reported.
Excluding the effect of this program, total credit to the private sector would have fallen 6.8% year-on-year.
According to the issuing entity, Peruvian Sol-denominated loans continue to grow at two-digit rates (17.4% in April), while U.S. dollar-denominated loans decreased 13.6% in the same period.
When grouped by segments,
credit to companies grew 0.8% in April and 16.7% year-on-year, while loans to individuals increased 0.5% in the fourth month of 2021 and decreased 2.6% in the last 12 months.
It is worth pointing out the dynamism of mortgage loans, which registered a year-on-year rate of 6.0% in April (4.8% in March).
For its part, the dollarization ratio of credit to the private sector dropped in the last twelve months from 26% in April 2020 to 21% in April 2021.
This significant reduction is mainly due to a lower dollarization ratio of credit to businesses, which decreased from 37% to 27% in the last twelve months to April 2021.
On the other hand, the dollarization ratio of credit to individuals remained at the minimum level of 8%.
The dollarization ratio of credit to micro and small enterprises —the lowest in this segment— recorded 4% in April 2021.
Moreover, the dollarization ratio of credit to medium-sized companies fell from 39% in April 2020 to 22% in April this year, while the dollarization ratio of credit to large companies and corporations fell from 49% to 42% in the same period.
Concerning loans to individuals, the dollarization ratio of mortgage loans fell from 13% to 11% in the last twelve months, while the dollarization ratio of consumer loans remained at 6%, and the dollarization ratio of car loans increased from 14% to 17%.
(END) NDP/RMB
Published: 5/31/2021