Dollar Credit Accelerates in Costa Rica

Across the banking sector credit in dollars increased by 17% in just twelve months (June 2011 to June 2012) ($ 1.195 million). In that period the increase in dollar portfolios was 24.7% in public banks and 12.7% in private banks.

Tuesday, August 21, 2012

From the Blog Pulso Bursátil by Aldesa:

Dollar credit, a bubble?

The data on the behavior of domestic credit provided by the Costa Rican Banking Association (ABC in Spanish) clearly outlines the behavior of dollar credit in the past year, which has increased significantly, both among private and public banks.

According to the ABC, up to June credit growth in local currency at the banking system level was 8.8%, an increase that was stable during the first part of the year.
At the bank level, national currency loans from public banks rose by 9.7% and by 3.9% from private banks
Contrary to what happens with loans in colones, the dollar credit growth has been steady, but has accelerated, mainly between April and June.

Across the banking sector credit in dollars increased by 17% in just twelve months (June 2011 to June 2012) ($1.195 million). The increase in the dollar portfolio was 24.7% in public banks and 12.7% in private banks in the aforementioned period.

More on this topic

Credit in U.S. Dollars Grows 17% in Costa Rica

June 2012

High interest rates in colones have encouraged a demand for credit in dollars, while local currency loans have grown by only 8.8%.

From Aldesa’s Blog, Pulso Bursátil:

The latest data from the Costa Rican Banking Association shows that high interest rates in colones have encouraged a demand for dollar credit.

Costa Rica: More Filters for Lending

May 2013

Credit histories of businesses and individuals will be more thoroughly reviewed, as well as their actual repayment capacity.

"We want entities to analyze peoples's debts with everyone, because they may have a loan here and there, and in the end owe millions," said Javier Cascante, chief of the General Superintendence of Financial Entities (Sugef).

Costa Rica: Strong Growth in Dollar Loans

September 2012

State banks are leading this growth, although private banks still retain 61% of the total loan portfolio in the U.S. currency.

An article in Nacion.com reports that "The growth in dollar loans from public banks is striking because it is a market that traditionally is dominated more by private financial institutions."

Guatemala: Local Currency Loans Increase

October 2010

By October 7th, loans in Quetzales showed an increase of 6.8% over the same period in 2009.

According to information from Banco de Guatemala, in the same period, foreign currency loans show a 7% fall.

Prensalibre.com reports, "Closing the first week of the month, dollar loans stood at Q23 thousand 139.3 million, according to Banguat.

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Panamanian Waterfront - Joint Venture / Sale / Trades Invited

Prime Taboga Island location: 6 Hectare Pacific Ocean beachfront suitable for subdivision with private boat docks, or boutique resort / mariner.
Piña Beach (15 KM to Colon) adjoining 10.5 Hectare & 32...

Stock Indexes

(Apr 24)
Dow Jones
0.00%
S&P 500
0.17%
Nasdaq
0.52%

Commodities

(Apr 24)
Brent Crude Oil
110.02
Coffee "C"
214.8
Gold
1,293
Silver
19.640