CMF reports the performance of supervised banks and cooperatives as of July 2026

Loans in the banking system as of July 2026 declined by 0.18 percent in real terms over 12 months due to the trajectory of the commercial portfolio. Meanwhile, consumer loans grew for the 15th consecutive month, albeit at a lower rate than that of the previous month, while housing loans grew slightly and at a lower rate than that of June (Graph 1)

Graph 1.

Total loans at amortized cost and loans by portfolio, banking system

(Real annual variation expressed in percentage)

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

Aggregate credit risk indices mostly decline versus June. The Arrears Ratio of 90 Days or More (AR90) fell to 2.34 percent (2.41 percent in June 2026) and the Impaired Portfolio Ratio (IPR) to 5.89 percent (5.95 percent in June). The Loan-Loss Provisions Index (LLPI) showed no variation at 2.53 percent.

Decreases were recorded across all portfolios except for a few cases: the LLPI increased for consumer and housing loans, while the IPR for housing loans stood pat.t).

Indices by portfolio showed uneven behavior versus 12 months ago as all of them decrease for commercial and consumer loans while increasing for housing loans (see Page 4 of the Performance Report).

Provisions coverage increased during the month but decreased compared to 12 months ago.

Cumulative profits grew because of an increased interest and readjustment margin and, to a lesser degree, other operational incomes and net income fees. There were also increased operational and loan loss expenses in the period. However, profitability indices decreased: the return on average equity (ROAE) to 15.53 percent and the return on average assets (ROAA) to 1.38 percent.

As for cooperatives, loans increased at a lower rate than those of both June and 12 months ago. This was due to lower growth in the consumer portfolio, which represents 67.06 percent of total operations, of just 1.48 percent in real terms (Graph 2).

Graph 2: 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.

Aggregate credit risk indices behaved unevenly. The Provisions Index (PI) moved up to 4.14 percent (4.11 percent in June 2026); the AR90 grew to 2.46 percent (2.32 percent in May); and the IPR fell to 8.23 percent (8.25 percent in March).

Indices by portfolio mostly fell with some exceptions. All indices grew for consumer loans while the PI showed no variation for housing loans (see Page 7 of the Performance Report).

Cumulative results posted in June declined due to increased net provision expenses and lower net fees despite an increased interest margin. In line with these results as of July 2026, profitability indices fall compared to 12 months ago as the ROAA declines to 2.44 percent and the ROAE to 11.94 percent.