July 31, 2024 - Loans in the banking system expanded by 1.17 percent in 12 months during June. This was due to increases in the commercial and housing portfolios of 0.32 and 2.9 percent, respectively, Meanwhile, the consumer portfolio contracted by 1.36 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 impaired portfolio ratio increased, the arrears ratio of 90 days or more decreased, and the loan-loss provisions index showed no variation. All three portfolios showed uneven behaviors: commercial loans recorded growths in the loan-loss provisions index and impaired portfolio; consumer loans saw increases in the arrears ratio of 90 days or more and the loan-loss provisions index while the impaired portfolio ratio decreased; and housing loans reported no variation in the loan-loss provisions index versus an increase in the impaired portfolio ratio and a decrease in the arrears ratio of 90 days or more.
As a result, the loan-loss provisions index stood pat at 2.57 percent, while the arrears ratio of 90 days or more fell from 2.31 to 2.3 percent and the impaired portfolio ratio grew from 5.97 to 5.98 percent. All three credit risk indices grew versus 12 months ago, as they did across all portfolios.
Monthly profits for June reached CLP 416,963 million (USD 438 million) for a decrease of 15.77 percent compared to last month but an increase of 1.83 percent over the past year. Accordingly, the return on average equity was 14.94 percent (lower than last month's) and the return on average assets remained at 1.16 percent. Both figures are lower versus those of the same month of 2023.
Supervised Cooperatives
Loans by savings and credit cooperatives supervised by the CMF increased by 10.93 percent over 12 months. The consumer portfolio, which comprised 70.61 percent of these loans in June, is the main factor behind this result with a growth of 8.44 percent in that span. The commercial portfolio expanded by 6.15 percent, and the housing portfolio grew by 19.72 percent during the past year.
Total loans and loans by portfolio by savings and credit cooperatives
(Real annual variation expressed in percentage)
Purple: Total loans. Red: Commercial loans. Blue: Consumer loans. Green: Housing loans.
Regarding credit risk, all three indices increased during the month: the provisions index reached 3.83 percent; the arrears ratio of 90 days or more 2.56 percent; and the impaired portfolio ratio 7.73 percent. Variations compared to May were due to increases in the consumer portfolio.
The impaired portfolio ratio and provisions index grew versus 12 months ago because of the figures posted by the consumer and commercial portfolios in the former, and the consumer portfolio for the latter. The arrears ratio of 90 days or more fell due to the housing portfolio.
Monthly profits for June reached CLP 8,215 million (USD 9 million) for an increase of 3.12 percent versus last month and 26.27 percent compared to last year. The return on average equity was 12.62 percent, higher than those of last month and June 2023; and the return on average assets was 2.79 percent, better than last month's but worse than that of a year ago.
Links to Relevant Documents
- Report on Performance of the Banking System and Cooperatives - June 2024
- Monthly Report on Financial Information of the Banking System - June 2024
- Report on Derivative and Non-Derivative Instruments of the Banking System - June 2024
- Arrears Ratio of 90 Days or More in the Banking System - June 2024
- Report on the Impaired Portfolio of the Banking System - June 2024
- Assets and Liabilities of the Chilean Banking System Abroad - June 2024
- Balance Sheets and Statements of Banks (in plain text format) - June 2024
- Financial Report of Savings and Credit Cooperatives - June 2024
