Financial Market Commission

CMF reports on the performance of banks and cooperatives as of December 2019

January 30, 2020.- Loans grew 7.12 percent in 12 months, below both the 10.60 percent recorded in November and the variation of 9.93 percent registered in December 2018. Compared to last month, all three portfolios expanded less.

Commercial loans, consumer loans, and housing loans rose by 7.48 %, 3.93 %, and 8.32 % respectively.

Meanwhile, the loan-loss provisions index increased to 2.56 percent, while the arrears ratio of 90 days or more rose to 2.07 percent and the impaired portfolio ratio reached 5.03 percent.

Monthly profits for December increased by 4.48 percent compared to November, totaling 219,311 million Chilean pesos (USD 295 million). A decline in provision and tax expenses coupled with a rise in net fees, a fall in net interest income, and an increase in support costs explain this higher monthly result.

Supervised Cooperatives

Loans by savings and credit cooperatives supervised by the CMF grew by 4.74 percent over 12 months, down from 4.92 percent in November. A lower growth of the consumer portfolio - only 6.07 percent - explains this variation.

Regarding credit risk, the provisions index declined to 4.24 percent. Both the arrears of 90 days or more and impaired portfolio indices rose to 3.33 and 7.39 percent, respectively.

Monthly profits fell by 67.33 percent, mainly due to an increase in net provisions and support costs. The cumulative result grew by 1.29 percent, totaling 78,685 million Chilean pesos.

Performance Report

Alongside this month's financial information, the analysis published in the Performance Report includes a summary of the banking and cooperative systems. It encompasses their financial situation for the whole of 2019, including aspects such as activity, risks, and results.

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