Financial Market Commission

CMF reports on the performance of supervised banks and cooperatives as of April 2022

Loans in the banking system increased 4.35 percent in 12 months, buoyed by expansions in the commercial and consumer portfolios.

May 30, 2022 - Loans in the banking system grew 4.35 percent over the last 12 months. This figure is higher than both the one recorded last month (2.53 percent) and the one recorded in April 2021 (minus-4.49 percent). Expansions in the commercial and consumer portfolios explain this result. The former increased 2.96 percent in that span, while the latter expanded by 5.08 percent after a long negative streak between March 2020 and November 2021. Meanwhile, the housing portfolio increased 5.03 percent, slightly below last month's 5.11-percent growth.

Regarding credit risk, all loan indices grew versus last month at the portfolio level, with an increase in most portfolios. However, the ratios are below the ones recorded in the same period last year, with the only exception being the arrears ratio of 90 days or more for consumer loans.

Accordingly, the loan-loss provisions index recorded a minimal growth from 2.39 to 2.40 percent because of identical trends observed in the consumer and housing portfolios. The arrears ratio of 90 days or more increased across all portfolios, its overall figure jumping from 1.30 to 1.38 percent. The impaired portfolio index reached 4.46 percent as increases in the consumer and commercial portfolios countered a decline in the housing portfolio.

Monthly profits for April amounted to 582,480 million Chilean pesos (USD 680MM), while the cumulative result for 2022 is up to CLP 1,903,498 million (USD 2,222MM) for an increase of 45.24 percent in 12 months. As a result, the return on average equity was 18.96 percent and the return on average assets was 1.30 percent. Both figures are above the ones recorded in April 2021.

Supervised Cooperatives

Loans in savings and credit cooperatives supervised by the CMF fell once again this month, posting a decline of 0.97 percent over the past year. The consumer portfolio, which comprises 72.08 percent of these loans, contracted by 1.94 percent and is the main reason behind this result. Meanwhile, the commercial and housing portfolios expanded by 6.29 and 1.65 percent, respectively, though both figures were below the ones recorded in March.

Credit risk indices improved versus last month. The loan-loss provisions index fell to 3.34 percent and the arrears ratio of 90 days or more was 1.96 percent. The impaired portfolio index declined compared to March at 5.88 percent, explained by decreases across all portfolios. However, the provisions index and arrears ratio of 90 days or more for the consumer portfolio posted somewhat higher levels than 12 months ago. The former moved from 4.03 to 4.05 percent, and the latter from 1.38 to 1.75 percent.

Monthly profits for March reached 11,384 million Chilean pesos (USD 13MM), while the cumulative result is up to CLP 38,245 million (USD 45MM), a decline of 11.69 percent versus last year. Accordingly, the return on average equity was 15.25 percent and the return on average assets was 3.55 percent, both figures better than the ones recorded in March 2021.

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