Credit to the private sector increased to 7.3% year-on-year in March, according to the BCR

Credit to the private sector increased 6.7% in April, reported the BCR

The reported that loans made by financial entities registered an expansion of 6.7% in April of this year, compared to the same in 2021.

Loans include banks, finance companies, municipal and rural savings banks; in addition to cooperatives and according to the report, a greater dynamism of credit to individuals was observed, which expanded at a year-on-year rate of 12.8% in April (11.7% in March), although the growth of loans to companies slowed down from 4.9% in March to 3.5% in April.

In monthly terms, the BCR reported that credit advanced 0.3% based on a greater dynamism of loans to individuals (1.6% monthly), although there was a decrease in loans to companies (-0.4% monthly).

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By currencies, credit in soles advanced at a year-on-year rate of 7% in April, mainly explained by the dynamism of loans to individuals at 14.2%.

In monthly terms, the BCR specified that credit in soles registered zero growth in April, but with an expansion of loans to individuals by 1.6%.

In dollars, the expansion was 5.7% in April compared to the same month of the previous year.

Data

  • The annual growth rate of consumer credit was 17% compared to 15.1% in the previous month.
  • In relation to mortgage credit, the issuing entity revealed that its interannual increase was 7.5% last April, higher than that registered in the previous month (7.3%).

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