February 29, 2024 - Loans in the banking system expanded 1.61 percent in 12 months. The housing portfolio grew 3.45 percent, and commercial loans recovered to post a 1.09-percent increase in that span. Consumer loans, meanwhile, recorded a 1.07-percent decrease, albeit lower than the ones in recent months.
Graph 1: Total loans and loans by portfolio in the banking system
(Real annual variation expressed in percentage)
Purple: Total loans. Red: Commercial loans. Blue: Consumer loans. Green: Housing loans.
Regarding credit risk, the loan-loss provisions index showed no variation versus last month, while the arrears ratio of 90 days or more and the impaired portfolio ratio increased. All indices grew by portfolio, with the arrears ratio of 90 days or more moving from 2.13 to 2.20 percent and the impaired portfolio ratio from 5.63 to 5.70 percent because of higher coefficients in all three portfolios. While the loan-loss provisions index remained pat at 2.57 percent, it did show increased coefficients across all portfolios.
All credit risk indices, including by portfolio, grew compared to 12 months ago.
Monthly profits for January reached CLP 328,230 million (USD 352 million), decreasing 11.89 percent in 12 months and 21.55 percent versus last month. Accordingly, the return on average equity was 15.16 percent and the return on average assets 1.13 percent. These figures are lower than both the ones posted last month and a year ago.
Supervised Cooperatives
Loans by savings and credit cooperatives supervised by the CMF increased by 12.48 percent over 12 months. The consumer portfolio, which comprises 71.16 percent of these loans, is the main reason behind this result after growing 10.12 percent during the month. Commercial loans expanded 7.04 percent, and housing loans rose by 21.31 percent in that span.
Graph 2: Total loans and loans by portfolio granted by savings and credit cooperatives
(Real annual variation expressed in percentage)
Purple: Total loans. Red: Commercial loans. Blue: Consumer loans. Green: Housing loans.
Regarding credit risk, the provisions index, the arrears ratio of 90 days or more, and the impaired portfolio ratio grew during the month because of upward trends the consumer portfolio. The provisions index moved to 3.69 percent; the arrears ratio of 90 days or more to 2.6 percent; and the impaired portfolio ratio to 7.75 percent.
All credit risk indices increased versus 12 months ago. There were, however, some decreases in the provisions index of the commercial and housing portfolios, and the impaired portfolio ratio of the housing portfolio.
Monthly profits for January amounted to CLP 2,277 million (USD 2 million), declining by 82.85 percent versus last month and 53.23 percent versus last year. Accordingly, the return on average equity was 11.32 percent and the return on average assets 2.58. Both were lower than the figures recorded last month and the same month last year.
Links to Relevant Documents
- Report on Performance of the Banking System and Cooperatives - January 2024
- Monthly Report on Financial Information of the Banking System - January 2024
- Report on Derivative and Non-Derivative Instruments of the Banking System - January 2024
- Arrears Ratio of 90 Days or More in the Banking System - January 2024
- Report on the Impaired Portfolio of the Banking System - January 2024
- Assets and Liabilities of the Chilean Banking System Abroad - January 2024
- Balance Sheets and Statements of Banks (in plain text format) - January 2024
- Financial Report of Savings and Credit Cooperatives - January 2024
