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Asbanc: Bank loans in Peru up 3.62% in November YOY

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Asbanc: Bank loans in Peru up 3.62% in November YOY

Bank loans in Peru totaled about 235.11 billion Peruvian soles in November, up 3.62% from a year earlier, considering a constant exchange rate, according to figures released by local banking association Asbanc.

Two key areas in loan growth were in corporate and consumer credit, which grew by 7.8% and 8.0%, respectively, compared to the same month a year ago.

"It is expected that next year, in context of favorable projections for investment and thus for domestic demand, the indicators for loans granted show a greater dynamism," Asbanc said in a Dec. 26 news release.

As of Dec. 26, US$1 was equivalent to 3.38 Peruvian soles.