Financial Market Commission

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

Loans in the banking system expanded by 3.07 percent during the last 12 months, mainly due to lower activity in the commercial and housing portfolios.

​June 29, 2022 - Loans in the banking system increased 3.07 percent in 12 months, less than the 4.35-percent increase recorded in April but also higher than the 4.55-percent decline posted in April 2021. This was mainly due to lower activity in the commercial and housing portfolios, with the former growing 1.05 percent and the latter 4.42 percent over the past year, both below the 2.96 and 5.08 percent recorded last month, respectively. Consumer loans, however, increased 6.39 percent in May, above the 5.08-percent growth posted in April.

Regarding credit risk, the loan-loss provisions index (2.36 percent in May, 2.49 in April) and the impaired portfolio ratio (4.40 percent in May, 4.46 in April) decreased versus the previous month due to similar trends in the commercial and housing portfolios which countered a rise in the consumer portfolio. The arrears ratio of 90 days of more stood pat at 1.38 percent despite a drop in the commercial portfolio and growths in the housing and consumer portfolios.

Compared to 12 months ago, all indices of credit risk on loans decreased, as did most of the portfolio ratios except the provisions index and the arrears ratio of 90 days or more for consumer loans.

Monthly profits for May reached 567,127 million Chilean pesos (USD 686 million), while the cumulative result amounted to CLP 2,470,625 million (USD 2,990 million) for a 48.16-percent growth versus last year. Accordingly, the return on average equity was 19.85 percent and the return on average assets 1.36 percent, both figures better than the ones posted in April 2021.

Supervised Cooperatives

Loans in savings and credit cooperatives supervised by the CMF decreased once again this month, contracting 0.49 percent over the past year. The consumer portfolio, which comprises 72 percent of said loans, fell 1.12 percent and is the main reason behind this result. Both the commercial and housing portfolios recorded lower growths in that span as well at 4.49 and 0.45 percent, respectively.

All credit risk indices worsened in May. The loan-loss provisions index increased slightly to 3.35 percent because of similar trends in the consumer portfolio; the arrears ratio of 90 days or more reached 2 percent after increases in all three portfolios; and the impaired portfolio ratio was 5.90 percent due to growths in the consumer and housing portfolios.

The provisioning and impaired portfolio indices fell during the past year after similar trends in all three portfolios. Only the arrears ratio of 90 days or more expanded in that span, however, due to the indices for consumer and housing loans.

Monthly profits for May reached CLP 14,382 million (USD 17 million), while the cumulative result fell 2.57 percent over 12 months to CLP 52,627 million (USD 64 million). The return on average equity was 1.587 percent and the return on average assets 3.71 percent, both better than the ones recorded last year.

Performance Report

Alongside this month's financial information, the performance report includes a brief analysis of the main investments made by banks in subsidiaries and support companies over the last ten years, including subsidiaries abroad and the retail industry.

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