Loans grow at annual rate of 6% in June, NPL ratio still at low levels

Monday, July 18, 2011

Bank loans in Venezuela rose by 6.3% year-on-year in June to 207bn bolívares (US$38.1bn), according to the latest sector report by local consultancy Softline.

In the 12 months to June, lending grew 39.7%, the report said, adding that the non-performing loan ratio stood at 3.1% last month.

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

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