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Colombia's financial institutions association warns of looming credit risks

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Colombia's financial institutions association warns of looming credit risks

A study by Colombia's ANIF, the association of financial institutions, has warned of looming credit risks that lenders should monitor closely to avert a further decline in portfolio quality, Portafolio reported.

According to ANIF, the past due portfolio of the banking system, which now stands at 4.5%, could experience further deterioration. The study said years of slow growth of the Colombian GDP and rising unemployment could contribute to an over-indebted economy.

Loan portfolios of the financial sector and the commercial segment have been growing slower due to poor economic results and political uncertainty in Colombia, the publication said.