The Central Reserve Bank of Peru (BCRP) reported that credit to the private sector –which includes loans granted by banks, finance companies, municipal and rural savings banks and cooperatives– went from a year-on-year growth of 4.4% in December 2021 to 6.2% in January this yearwhich marks the fifth consecutive month of acceleration.
In monthly terms, loans decreased 0.3% in January 2022 compared to December 2021. It was also reported that by currencies, credit in soles went from a year-on-year increase of 5.2% in December to one of 7.3% in January of this year, explained by the higher growth of loans to individuals. In monthly terms, a fall of 0.3% was registered compared to last December.
In foreign currency, credits went from a year-on-year expansion of 1.1% in December to 1.9% in January. Compared to December, these loans in the first month of this year fell 0.1%.
The year-on-year growth of loans to individuals increased from 5.4% in December to 6.7% in January. Likewise, the interannual growth rate of consumer credit was 6.3% versus 3.8% the previous month, and of mortgage credit was 7.3% compared to 7.6% the previous month.
Finallyit was announced that credit to companies decreased 0.9% monthly in JanuaryHowever, the year-on-year growth rate rose from 3.8% in December to 5.9% in January. It is worth mentioning that the year-on-year growth of credit to companies without considering the Reactiva Peru Program amounts to 16.0%, a figure higher than the growth of total credit to companies, which would be explained by the amortizations and cancellations of the credits of said program in the term.
Source: Larepublica
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