Total
loans granted by Peruvian private banks amounted to S/270.751 billion (about US$80.3 billion) at the end of April this year, which represented an advance of S/17.500 billion (about US$5.192 billion), or 7.19%, compared to the same month in 2018, Peruvian Banking Association (Asbanc) said on Monday.
According to the association, a constant exchange rate was used to calculate the amount.
Disaggregating the data by the type of agent receiving the financing,
Asbanc found that bank loans provided to companies totaled S/173.652 billion (about US$51.5 billion) in April 2019, a growth of S/8.278 billion (about US$2.456 billion), or 5.01%, from the same month last year.
Therefore, financing for families reached S/97.099 billion (around US$28.8 billion) at the end of the fourth month of 2019, up by S/9.892 billion (about US$2.935 billion), or 11.34%, over April 2018.
The slowdown in loans to companies may be due to the meager performance shown by the economy in the first quarter of the year, with a year-on-year variation rate of 2.3%, the lowest in five quarters.
"However, financing for families remains dynamic, thanks to the positive performance of private consumption," the banking association underlined.
As for the impact on loan growth in April 2019 (of 7.19%), the largest contribution came from families with 3.92 percentage points, while companies contributed 3.28 percentage points.
(END) MDV/RMB/MVB
Published: 6/3/2019