Saturday, 28 January 2023 03:50

Savings accounts had a year-on-year growth of US$437 million to january 2023

Written by Evelyn Alas

The Superintendencia del Sistema Financiero (SSF), reported that savings accounts show an 8% increase as of january 20, 2023, which represents an interannual growth of US$437.6 million, marking a positive trend of the population towards savings.

The evolution of savings accounts in 2022 was US$5,478 million and compared to 2023 they grew US$5,916 million.

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The balance of loans granted by the banking sector reflects, as of january 20, 2023, an interannual growth of US$1,654.3 million, maintaining the dynamism in the country's economic activity during the first days of the year.

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The inter-annual growth of loans in banks, cooperative banks, and savings and loan societies in 2023 was US$17,554 million, or 10.4% more than in 2022, which was US$15,889 million.

The inter-annual growth of deposits registered a growth of US$732.8 million in deposits as of january 20, 2023, reflecting the economic stability of the country's financial system.

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According to the institution, these are achievements that reflect the effectiveness of the institutions in charge of supervision and regulation, which help to sustain the soundness of the sector.

 

Translated by: A.M