At the end of October the gross balance of the portfolio amounted to $699 billion and the depth indicator stood at 42.3% of GDPa figure that shows a significant drop compared to that reported a year ago when the indicator was 44.3% of GDP.
The Financial Superintendency said that the entire portfolio 19 months with negative real annual variationswith a record in October -3.36% in the gross balancewhich reflects the negative real annual variation of the consumption and commercial modalities, which could not be neutralized by the positive variation of the microcredit and housing modalities, mainly.
The Superfinanciera said that “In September, the commercial portfolio recorded 17 consecutive months with negative real annual variation, in line with the macroeconomic environment”.
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In month-on-month terms, the balance of the commercial portfolio increased $2.3 billiongiven the positive contribution of segments such as microenterprise ($2.7 billion) and foreign currency ($2.2 billion). The approval rate of this portfolio reached 89% of the number of applications and $27.9 billion was disbursed.
When disaggregating the variation by product, positive records are observed in microenterprises with a real annual variation of 10.9%; and official or government 6.2%; while, SME, business and financial and institutional products registered negative data of 11.1%, 9.2%, 7.1%, respectively.
The consumer portfolio registered a negative nominal variation of 4.6% and a real annual variation, also negative of 9.5% in October. Of this rate, 64% is explained by the free investment product, which accumulates a real annual variation of -18.5%. The daily portfolio registered $663 billion, this represents 95% of the total balance.
The portfolio quality indicator due to default for the total portfolio, calculated as the relationship between The overdue and gross balance was 5%, that is, 13 basis points below of the October 2023 indicator.
By modality, microcredit reported an indicator of 9.2%, followed by consumption which stood at 7.4%, commercial at 3.9% and housing at 3.6%.
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It must be remembered that in October the Credit Establishments reported profits of $7 billion, amount higher than that recorded at the end of the same month of 2023, a period in which these amounted to $6.7 billion.
When disaggregated by type of entity, banks accumulated profits of $6.9 trillion, a result that is 7.81% higher than the same period last year.
HOLMAN RODRIGUEZ
Journalist Portfolio
