Thursday, 20 July 2023 23:06

Financial system loans grew 9.2% in may: SSF

Written by Evelyn Alas

The Salvadoran financial system contributes to the stability of the country's economy and this is reflected in the strength of its indicators at the end of may 2023, highlighting the 9.2% interannual growth in loans, which reached US$17,974.62 million.



Likewise, deposits in banks, cooperative banks and savings and loan societies reported an inter-annual growth of US$681.4 million, reaching US$18,178.53 million.

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This increase in deposits represents an important source of funding for the financial system to provide loans with better conditions for users.

Within deposits, savings accounts are one of the main products that financial institutions make available to the population, reporting a year-on-year growth of US$139.5 million, bringing total savings to US$6,012.62 million, demonstrating the confidence that users have in the institutions that are part of the supervised financial system.

Superintendencia del Sistema Financiero

Regarding the securities market, the assets of investment funds as of may 31, 2023 reached US$530.60 million, with an inter-annual increase of US$109.14 million, which represents 25.9% in relation to the same month of 2022.

Closed-end investment funds, which are those that have a defined term and where the participants can only receive what corresponds to their participation quotas at the end of the Fund's term, are the ones that favored growth, going from assets of US$218.24 million in may 2022 to assets of US$356.01 in may 2023.

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These positive results and the stability shown by the financial system through the indicators are the result of the policies implemented by the Central Government.


Translated by: A.M