Thursday, 12 January 2023 16:56

From january to december 2022 savings accounts grew 10.1%: SSF

Written by Evelyn Alas

According to the Superintendencia del Sistema Financiero (SSF), as of december 2022, the evolution of savings accounts shows an increase of 10.1%, with a year-over-year growth of US$553.8 million.

The balance of loans granted by the banking sector reflected an inter-annual growth of US$1,688.3 million as of december 31, 2022, as a result of the dynamism in the country's economic activity.

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As of december 31, 2022, banks, cooperative banks, and savings and loan societies registered a growth of US$610.1 million in deposits, as a reflection of the confidence in the financial system and the stability of the country's economy.

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Savings accounts with simplified requirements show a growing trend as of december 2022, registering a total of 208,498 accounts, demonstrating the easy access to financial products from mobile devices.

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The Financial System indicators show that growth has been evolving since 2018 with 3,191 savings accounts, 2019, 40 thousand 238; 2020, 103 thousand 559; 2021, 143 thousand 838 and 2022, 208 thousand 498.


Translated by: A.M