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Wednesday, 23 November 2022 02:51

From january to november 2022, savings accounts grew US$588.9 million

Written by Evelyn Alas
From january to november 2022, savings accounts grew US$588.9 million

According to data from the Superintendencia del Sistema Financiero (SSF), the soundness of the country's banking sector is evidenced by the increase in savings accounts which, as of november 17, 2022, presented an interannual growth of US$588.9 million.

The evolution of the savings accounts in this same period shows that the growth was 11.3% more than in 2021, which was US$5,224 million.

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The balance of loans granted by the banking sector as of november 17, 2022, reflects an inter-annual increase of US$1,607.0 million, as a result of the dynamism of the economic activity.
 
In addition, the indicator of the financial system details that the inter-annual growth of loans granted by banks, cooperatives and savings and loan companies as of the mentioned date is 10.2% or US$17,361 million in the current year.
 
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The balance of deposits made as of november 17, 2022, presented an inter-annual increase of US$720.8 million, as a reflection of the security that banking represents for individuals, companies and institutions that deposit their money.
 
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Since october 2019, the banking sector has increased the number of savings accounts with simplified requirements offered to the population, reaching as of october 2022 a total of 191,030 accounts that facilitate savings to salvadorans from their cell phones.
 
Translated by: A.M
 
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