Loan portfolio recovered 9.2% in March 2023 due to greater dynamism of Consumption and Mypes

The Superintendency of Banking, Insurance and AFP (SBS) reported that, in March 2023, rescheduled loans showed a “significant reduction in all types of loans”, going from 5.9% in March 2022 to 3% for the current period.

During the presentation of the Financial System Stability Report, the SBS specified that, as of the third month of the year, companies have rescheduled loans for a total of S/2.7 billion in movements associated with high social conflict. In addition, torrential rains pushed in March the rescheduling of credits for a total of S/358 million.

In this case, the superintendency reported that mortgage loans maintain the highest percentage of reprogramming observed, with an average of 5.5%.

“Here, the dynamic is that those rescheduled due to COVID-19 go down, and those rescheduled due to rains and social protests rise slightly. In the end, the effect means that those rescheduled, as a whole, have not moved as much,” said the entity.

SBS: dynamism of Consumption and Mypes

However, the SBS reported that, as of March 2023, the financial system “has recovered its dynamism” in terms of granting credits, with a development of 9.2% compared to the previous period.

The greatest dynamism can be seen between consumer loans (21.3%) and those aimed at micro and small businesses (18.1%), which are beginning to “approach pre-pandemic growth rates.” On the other hand, the non-retail portfolio -the corporate one- does register a high-risk loan ratio (CAR) of 6%, above the pre-pandemic level.

Thus, the consumer, mortgage and mypes portfolios registered a CAR ratio of 4.9%, 4.2% and 8.9%, respectively, in the third month of 2023, without counting government programs. Levels are close to those registered in February 2020.

“The quality of the portfolio shows a stable trend, mostly returning to the levels observed before the pandemic,” the SBS highlighted.