Loan growth slows to 4% in July, NPL ratio improves

- Wednesday, August 17, 2011

Loan growth slows to 4% in July, NPL ratio improves

Bank loans in Venezuela rose 4% year-on-year in July to 215bn bolívares (US$50bn under the official exchange rate) at the end of the month, according to the latest sector report by local consultancy Softline.

This rate is a slowdown from the 6% interannual growth registered in June.

In the 12 months through July, lending grew 42.6%, the report said, adding that the non-performing loan (NPL) ratio stood at 2.8% at the end of last month.

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The NPL ratio fell by 30 basis points between June and July.

Private banks Banesco and Mercantil continued leading the loan market, accounting for just over 15% of system lending each.