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BCRP: credit to individuals achieved year-on-year growth of 2.8% in October

Loans to individuals grew 2.8% in October of this year, compared to the same period of 2020. The figure is the highest registered since June of last year. The sector was driven mainly by loans in soles, which went from 2.8% in September to 3.6% in October, according to the Central Reserve Bank of Peru (BCRP).

Meanwhile, mortgage credit experienced a 0.2% year-on-year contraction, going from 7.8% in September to 7.6% in October. In the same period, the rate of Annual variation of consumer loans fell from -2.0% to -0.6%.

In monthly terms, October is the third consecutive month of growth with 1.1%. The increase was driven by consumer and mortgage loans, which registered an expansion of 1.5% and 0.6%, respectively.

Growth of loans to small and micro enterprises

On the other hand, credit to small and medium-sized companies also showed a monthly advance of 1.1% in October. With this, three consecutive months are thus closed with positive indicators above 1%.

Thus, the interannual growth between September and October rose from 3.2% to 3.5%. This, without considering the credits of the Reactiva program of the Ministry of Economy and Finance, with which the figure would have reached 19.1%.

Credit to the private sector

Credit in the private sector, which includes loans granted by banks, finance companies, municipal savings banks and cooperatives, also maintained a positive year-on-year variation for the second consecutive month, going from 2.8% in September to 3.2% in October.

Along the same lines, credit in soles closed higher for the ninth consecutive month with 0.6% growth in October.


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