Saturday, 18 May 2024 04:20

Gross loans in El Salvador grew to US$16,508.5 million in march 2024

Written by Alejandra García Ortiz

Gross loans in march 2024 reached US$16,508.5 million, compared to US$15,814.9 million in march 2023.

 

 

In the loan portfolio by bank, Banco Agrícola has been positioned as the one offering the largest loans with a total amount of US$4,175.7 million, followed by Banco Cuscatlan with US$2,943.1 million and BAC Credomatic with US$2,508.7 million.

Net loans reached US$16,048.9 million and in the month of march of the previous year the total amount was US$15,360.5 million.

In the loan portfolio by economic sector it was indicated that the consumer sector has increased in loans from US$5,175.8 to US$5,504.6 million, housing from US$2,669.4 million to US$2,761 million, commerce from US$2,294.4 to US$2,490.2 million, in the period from march 2023 to march 2024.

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The manufacturing industry sector has decreased from 10.5% to 9.7%, equivalent to US$1,596.5 million, which shows an inter-annual variation of -3.6%.

In addition, it was recorded in the banking system that gross loans have a total credit balance of US$693.6 million, equivalent to 4.4% more than in march 2023. According to the report, loan loss reserves on gross loans have decreased 1% in the period of one year.

 

Translated by: A.M