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Financial credits reach pre-pandemic levels

After 17 months into the COVID-19 pandemic, the loan portfolio -without considering government programs- reached pre-pandemic levels, according to the Superintendency of Banking, Insurance and AFP (SBS).

In detail, corporate loans are already growing above their pre-pandemic level since May 2021 and are above pre-pandemic. Like mortgage loans, which were the least affected, with an annual growth of 9.3%. While consumer spending was the most impacted, with a 10.7% drop since February 2020.

On the other hand, credits to mypes have not yet reached their prepandemic level, decreasing 2.4% since February of last year. “The level of credits granted to mypes has not been recovered yet. But we see that it is the type of credit that most benefited from programs such as Reactiva and others, which make it the largest part of financing for government programs, ”explained Jorge Mogrovejo, deputy superintendent of Banking and Microfinance.

The SBS official also reported that the total portfolio of the Finance system grew by 5.7% and the credit balance amounted to S / 390,992 million.

Likewise, 12.6% of financial system debts correspond to state programs such as Reactiva Peru and FAE, with a value that amounts to S / 49,355 million.

Regarding the quality of the loan portfolio, Mogrovejo pointed out that there is a slight improvement, but the adverse effects of the pandemic remain. Thus, as of September 2021, the NPL ratio is 4.01%, with the mype portfolio being the most impaired with 7.6% delinquency.

Rescheduling and profitability

Rescheduled loans represent 13.8% of total direct loans, with a total amount of S / 53,922 million, including government loan programs. And they are loans to mypes those with the highest percentage of rescheduled with respect to their total portfolio (21.5%).

According to the SBS report, if state funding programs are excluded, rescheduled loans They amount to S / 38,223 million, this is 98% of the total direct loans.

On the other hand, the downward trend in the profitability of the financial system began to reverse, and in September an ROE (net income / average equity) of 6.7% was reached.

“The pandemic severely affected profitability, we saw reductions in ROE, but as of the middle of this year this indicator begins to recover. Still far below what was in prendemic, but they are already positive signs “, concluded Mogrovejo.

The data

Solvency. The average capital ratio is 15.3%, a figure above the legal minimum (8%). The financial system has S / 34,345 million to face potential contingencies.

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