Peruvian micro, small companies' lending up 8.9% at end-April

Peruvian banks' micro and small companies' lending reached 15.6bn soles (US$5.85bn) at the end of April, up 8.89% year-on-year, local banking association Asbanc said in a release. Compared to the end of March 2013, lending to micro and small companies increased 0.49%. Consumer loans grew 1.08% from end-March and 13.4% from end-April 2012 to 26.9bn soles. Employment growth and its effect on earnings, together with a dynamic consumption and domestic demand, have fueled consumer loan demand and brought new customers to the formal financing system, Asbanc said.