Credit to Individuals Grows 9.8% in August, Fueled by Increased Loans in Soles

Credit to individuals grew 9.8% in August of this year, compared to the same month in 2022, due to greater loans of this modality in soles, which increased 10.5% year-on-year.

In monthly terms, credit to individuals rose 0.7% compared to July of this year, accumulating 26 months of consecutive growth.

Within these loans, those intended for consumption increased 13.1% year-on-year, favored by the increase in loans of this type in soles by 13.5%; and in dollars, at 6.5%. Comparing August versus July, consumer credit advanced 0.8%.

By consumer segments, vehicle credit had a year-on-year expansion rate of 14.8% in August, while credit card loans advanced 19.1%.

The dollarization of consumer credit remained at 5.5% last August, a level lower by 0.4 percentage points than a year ago.

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Published: 9/24/2023