Loan portfolio falls despite increase in number of operations and disbursements

Although officially the figures of the behavior of the credit portfolio in the financial system are known at the end of May, the first data for July confirm a lower dynamic in the amount placed, although in a greater number of operations.

(More: Nubank will offer a 13% interest rate in Colombia: to whom it applies).

By the fifth month of the year, the gross balance of the portfolio amounted to $688.4 billion and the indicator of deepening, that is, its weight within the GDP, stood at 43.4%, one of the lowest figures in the last decade. Thus, The portfolio completed 14 months of declines (5.5%) in the gross balance.

(Read: Why credit card cancellations and blockings have increased in the country).

This performance was mainly due to the real annual declines in the consumption and commercial modalities with 11% and 4.9% respectively, which could not be neutralized by the increase in microcredit and housing.

According to an analysis of the figures available from the Financial Superintendence as of July 12, reported by credit institutions, which include banks, financial corporations, financing companies and financial cooperatives, Although there was a larger number of people taking out loans each year, with more disbursements and larger amounts than a year ago, the situation with companies was completely different.

(See: How much would Colombians save with the ‘rate war’ on housing loans).

As of that date, a total of 9,129,135 disbursements to individuals were observed for a total amount of $3.76 trillion and the weighted average rate was 19.56% effective annual.

A year ago, the disbursement figure was 8,209,729 for $3.53 billion and the weighted average rate was 26.16%.

(More: Not sure if you are reported to Datacrédito? Here’s how you can find out with your ID card).

For its part, as of July 12, For companies, the accumulated number of disbursements was 540,566 for an amount of $7.18 billion and a weighted average rate of 17.16%.

A year ago, accumulated disbursements to companies were 547,867, for $7.96 billion and a weighted average rate of 22.44%.

Holman Rodriguez Martinez
BRIEFCASE