June 28, 2024 - Loans in the banking system declined by 0.06 percent over 12 months due to a decrease in both commercial and consumer loans, which posted variations of minus-1.55 and minus-1.6 percent, respectively. Housing loans, meanwhile, increased by 3.02 percent.
Total loans and loans by portfolio in the banking system
(Real annual variation expressed in percentage)
Purple: Total loans. Red: Commercial loans. Blue: Consumer loans. Green: Housing loans.
Regarding credit risk, the arrears ratio of 90 days or more and the impaired portfolio ratio increased versus last month, while the loan-loss provisions index showed no variation. The commercial and housing portfolios recorded increases in these indices, but they declined in the consumer portfolio.
The loan-loss provisions index stood pat at 2.57 percent, while the arrears ratio of 90 days or more grew from 2.26 to 2.31 percent and the impaired portfolio ratio from 5.9 to 5.97 percent.
All credit risk indices increased compared to 12 months ago, as they did by portfolio. The exception was a slight decrease in the arrears ratio of 90 days or more for the consumer portfolio.
Monthly profits for May reached CLP 492,064 million (USD 536 million) for a monthly increase of 11.72 percent and an annual increase of 2.46 percent. Accordingly, the return on average equity was 15.04 percent and the return on average assets 1.16 percent (both better than last month but lower than the same month last year).
Supervised Cooperatives
Loans granted by savings and credit cooperatives supervised by the CMF increased by 11.33 percent during May. The consumer portfolio, which represents 70.73 percent of said loans, is the main reason for this result with an 8.77-percent growth in 12 months. Commercial loans expanded 6.7 percent in that span, while housing loans rose 20.34 percent.
Total loans and loans by portfolio for savings and credit cooperatives
(Real annual variation expressed in percentage)
Purple: Total loans. Red: Commercial loans. Blue: Consumer loans. Green: Housing loans.
On credit risk, the provisions index grew during the month, while the arrears ratio of 90 days or more and the impaired portfolio ratio fell. The provisions index reached 3.81 percent; the arrears ratio of 90 days or more fell to 2.44 percent; and the impaired portfolio ratio was 7.72 percent. Compared to April, the provisions index increased in the consumer portfolio but the arrears ratio of 90 days or more and the impaired portfolio ratio decreased across all portfolios.
The provisions index increased versus 12 months ago for the commercial and consumer portfolios, as did the impaired portfolio ratio for the consumer portfolio. The arrears ratio of 90 days or more, however, fell because of the commercial and housing portfolios.
Monthly profits for May reached CLP 7,945 million (USD 9 million), declining by 10.36 percent over the month but growing 13.99 percent compared to the same month last year. Accordingly, the return on average equity was 12.08 percent and the return on average assets 2.68 percent. Both figures grew versus last month but declined compared to 12 months ago.
Links to Relevant Documents
- Report on Performance of the Banking System and Cooperatives - May 2024
- Monthly Report on Financial Information of the Banking System - May 2024
- Report on Derivative and Non-Derivative Instruments of the Banking System - May 2024
- Arrears Ratio of 90 Days or More in the Banking System - May 2024
- Report on the Impaired Portfolio of the Banking System - May 2024
- Assets and Liabilities of the Chilean Banking System Abroad - May 2024
- Balance Sheets and Statements of Banks (in plain text format) - May 2024
- Financial Report of Savings and Credit Cooperatives - May 2024
