The interest rates continue to rise given the national and international macroeconomic context. The Superintendency of Banks reports that the active and passive weighted average interest of multiple banks closed in June with levels of 13.5% and 7.4%, higher than those of December 2021.
In its most recent quarterly report on the performance of the financial system, the Superintendence indicates that the interest rate loans of consumption registered increases with respect to the previous quarter to settle at 17.8% annual. While the commercial rate also shows an increase in relation to the previous quarter, registering the level of 10.8% in June.
The loans mortgages also presented an increase in their rates, going from 10.2% in March 2022 to 12.1% in June 2022.
According to the report, the delinquency rate of the financial system stood at 1.03%, which places it at historically low levels.
financial strengths
The document also highlights that the Dominican financial system showed signs of strength and stability during the April-June 2022 period.
The system’s total assets amounted to 2.87 trillion pesos (53.1% of GDP), for a nominal interannual growth of 12.0%.
As of June, the loan portfolio amounted to 1.51 trillion pesos (28.1% of GDP), showing a growth of 190,144 million pesos compared to the same period in 2021. The year-on-year increase was 14.3%, higher than the average of the last five years (9.2%).
Within this category, the portfolio to the private sector experienced a year-on-year growth of 14.8%. Loans directed to the public sector observed a reduction of 1.1% compared to the same quarter of the previous year.
As of June, the solvency index of the financial system shows a reduction in relation to the first quarter, standing at 16.25% (-1.24 percentage points).
