Corporate, consumer credit demand strengthening, BCCH survey shows

Wednesday, January 12, 2011

Corporate and consumer credit demand in Chile is increasing with more than 78% of local banks reporting stronger demand, the quarterly poll conducted by central bank BCCH showed.

According to BCCH, demand has picked up as banks have made access to corporate and consumer credit easier amid an improving economic environment and stronger competition for customers in the financial system.

Working and investment capital needs have pushed corporate credit demand up, especially in the SME segment, BCCH noted.

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In terms of consumer and mortgage lending, the survey showed that a majority of banks see growing demand. This is due to lower interest rates, especially in mortgage loans as well as higher salary and employment levels.

The BCCH survey looks at the market's perception for new lending as well as credit demand in the financial system.

To read the full report in Spanish, follow this link