June 27, 2019.- The Financial Market Commission (CMF) reports the monthly results of banks and cooperatives, a summary of the system's performance to facilitate the understanding of the provided statistics.
Banking System
In terms of activity, placements grew by 9.43 percent in twelve months, down from 9.65 percent in April, but above the variation of 5.46 percent observed in May 2018. Compared to April 2019, the commercial portfolio expanded less while consumer and housing portfolios grew over the previous month.
Commercial placements rose 7.89 percent (8.27 percent on April '19, and 4.78 percent on May '18); consumer loans by 17.37 percent (17.06 percent on April '19, and 4.79 percent May '18); and housing loans by 8.42 percent (8.33 percent on April '19, and 7.45 percent on May '18).
On the other hand, the index of provisions for placements reached 2.43 percent, and the indices of arrears of 90 days or more and impaired portfolios reached 1.94 percent and 4.99 percent, respectively.
Profits for May were 251,183 million Chilean pesos (USD 355 million). They decreased 11.01 percent compared to the previous month. The lower monthly result was caused by higher expenses on taxes, although an increase in the interest margin and the result of financial operations (ROF) alleviated this effect.
Supervised Cooperatives
Placements increased by 4.53 percent in twelve months, down from 4.72 percent in April. The lower growth of the consumer portfolio (7.04 percent versus 7.40 percent on April '19) explained this variation.
In terms of Credit Risk, the index of provisions over placements' arrears of 90 days or more, and impaired portfolios increased compared to last April to 4.51 percent, 2.96 percent, and 7.28 percent, respectively.
Monthly profit fell by 47.65 percent, mainly attributable to an increase in net provision expenses. Meanwhile, the accumulated balance reached 35,982 million Chilean pesos, 1.13 percent lower than twelve months ago.
Performance Report
Along with this month's financial information, the analysis published in the Performance Report includes a section about the quantification of operational risk. This section describes the characteristics, classification of operational risk events, and the evolution of indicators by events of operational loss of the Banking System, among other factors.
The reports are published on the CMF website:
- Report on the Performance of the Banking System and Cooperatives - May 2019
- Monthly Report on Financial Information of the Banking System
- Report on Derivative and Non-Derivative Instruments of the Banking System
- Report on the Non-Performing Loans of the Banking System
- Indicator of individual default of 90 days of the Banking System
- Assets and Liabilities of the Chilean Banking System Abroad
- Balance Sheet and Statements of Banks
- Financial Report of Savings and Credit Cooperatives
