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In May, bank deposits and commercial bank lending to the Non-Financial Private Sector (SPNF) registered a widespread slowdown, influenced by weak economic activity and the fading exchange rate effect. Credit grew at a real annual rate of 7.4%, while deposits slowed to a real annual rate of 4.4%.

In March, outstanding credit granted to the non-financial private sector maintained double-digit growth, supported by corporate lending. Traditional banking deposits growth (sight+term) accelerated aunderpinned by public sector resources.

The effects of the exchange rate depreciation and the "Buen fin" influenced the acceleration of current credit to a nominal annual rate of 13.2% in November. This also influenced the acceleration of bank deposits up to 10.5% nominal. Going forward, the weakness of activity and employment points to a slowdown.

In October 2024, traditional bank deposits had a real annual variation of 4.7% (9.7% nominal), a figure higher than that of September (4.0% real). While the current credit portfolio granted by commercial banks to the SPNF grew 7.0% real annually (12.1% nominal), below the increase in September (7.2% real).

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

In April 2024, the balance of traditional bank deposits (sight + term) registered a real YoY growth rate of 3.6%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) recorded real YoY growth of 5.6%.

In February 2024, the balance of traditional bank deposits (sight + term) registered a real annual growth rate of 5.8%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) recorded a real annual growth of 5.1%.

In January 2024, the balance of traditional bank deposits (sight + term) registered a real annual growth rate of 4.3%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector grew 4.9% annually in real terms.