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Private credit in Peru up 7.3% YOY in February

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Private credit in Peru up 7.3% YOY in February

Total credit to the private sector in Peru, which includes loans by banks, savings and loan cooperatives and finance companies, was up 7.3% year on year for February, the Banco Central de Reserva del Perú said in a report.

Credit to companies was up 6.0% yearly, totaling 177.66 billion Peruvian soles in February. Meanwhile, credit to households grew 9.6% annually to about 108.34 billion soles.

Large companies saw the largest annual rise in credit, up 7.1% in February.

Total credit denominated in soles was 202.26 billion soles as of February 2018, up 6.2% year on year. Denominated in U.S. dollars, total credit in the month was up 10.1% yearly to $25.85 billion.

The central bank noted that dollar-denominated credit minus foreign trade was $21.16 billion for the same month.

As of March 22, US$1 was equivalent to 3.25 Peruvian soles.