Loans in the banking system posted higher growth with a variation of 2.03 percent over 12 months due to a recovery in the consumer portfolio. Commercial loans increased for the fourth month in a row, while housing loans grew slightly (albeit at a better rate than June).

Total loans and loans by portfolio, banking system
(Real annual variation expressed in percentage)

Gray: Total loans. Aqua: Commercial loans. Purple: Consumer loans. Orange: Housing loans.

All aggregate credit risk indices fell compared to last month. They either showed no variation or decreased across portfolios except the loan-loss provisions index for consumer loans, which increased. Indices display uneven behaviors versus 12 months ago: increases in the housing portfolio and decreases in both the commercial and consumer portfolios. Provisions coverage grew during the month and compared to a year ago.

Cumulative results grew due to lower taxes and operational expenses coupled with lower taxes and increased net income from fees. These compensated for drops in interest and readjustment margins. Better figures impact profitability indices compared to a year ago: the return on average equity moves to 15.56 percent and the return on average assets to 1.36 percent.

Loans granted by savings and credit cooperatives fell slightly compared to both July of this year and August 2024. The consumer portfolio, which represents 69.38 percent of total operations, expanded by 4.74 percent in real terms over 12 months and is the main reason behind this result.

Total loans and loans by portfolio, savings and credit cooperatives

(Real annual variation expressed in percentage)

Gray: Total loans. Aqua: Commercial loans. Purple: Consumer loans. Orange: Housing loans.

Credit risk indices show uneven behavior versus July: the provisions index grew while both the arrears ratio of 90 days or more and the impaired portfolio ratio fell. Consumer and commercial housing indices fell except for the provisions index for housing loans. Most commercial indices increase except for a drop in the arrears ratio of 90 days or more.

Increased interest margins led to higher results in August, but support expenses also grew during the month. These higher profits also impacted profitability indices compared to last year, with the return on average equity reaching 13.89 percent and the return on average assets 2.89 percent.