Asbanc: Financial companies' lending up 31% at end Sep

Peruvian financial houses saw lending at US$319mn at end September, up 31% compared to same month 2004, local banking association Asbanc said in a report. The increase was partly due to strong competition between financial companies in the credit card market, of which they control roughly 40%, an Asbanc official told BNamericas. Other factors that pushed up lending were the offering of services to a wider segment of the population and lines of credit of smaller amounts. The sector's past-due loan ratio fell to 2.69% at the end of September, compared to 3.55% in the same month 2004. Deposits reached US$160mn at the end of September, up 47% compared to the same time last year.