Friday, 08 February 2019 15:36

The salvadoran commercial banking lent US $660 million more in 2018

Written by Dinero

The Salvadoran Banking Association (ABANSA) presented the Financial Bulletin of the Banking System to December 2018.

According to data from the trade union, the loan portfolio stood at US $12 million 532 thousand in 2018. This means an increase of US $660 million (5.56%) compared to last year when it amounted to US $11 million 872 thousand.

The executive director of ABANSA, Marcela de Jiménez explained that as of December 2018, credit to companies represents 45.8%, while loans to individuals 34.5%, and credit to purchase homes 19.7%.

She said that the growth of credit to companies was 8.6%; to the people of 4.8%, and in the last place was the one used for the acquisition of housing with 0.3%.

ABANSA explained that financing to the commerce, manufacturing, and services sectors represents 68.5% of the total credit granted to companies.

The director of the union stressed that on average in the last 5 years, credit to the industrial sector grew 4.8%, trade 3.7%, and services 3%.

Deposits grow 4% in the last 5 years

Deposits in salvadoran banking register an average annual growth of 4% in the last 5 years.

The trade union data indicate that until September 2018, deposit accounts totaled 4,879,818, those used for savings totaled 3,724,304; those of current account were 990,721, with a term of 164,740; and housing certificates with 53.