Foreign currency corporate loans up 14% y-o-y in November

- Tuesday, December 27, 2011

Foreign currency corporate loans up 14% y-o-y in November

Foreign currency lending to corporations in Peru registered a total US$6bn in November, up 14% from the same month in 2010, according to a release from banking association Asbanc.

Local currency loans in the segment reached 9.2bn soles (US$3.4bn), an 8.5% rise year-over-year, the release said.

Foreign currency loans to large companies saw a year-on-year increase, at 18.2%, while local currency loans to these firms marked 1.04% growth. For their part, medium-sized firms saw local currency lending increase 0.25% and foreign currency loans by 22.7%.

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Total commercial lending in local and foreign currency in Peru reached 70.8bn soles at end-November, up from end-October's 70.4bn soles.